Costa Rica lowers basic interest rate to 11%

The basic passive rate has remained close to 11% for almost a month with slight variations in either directions.

Thursday, November 27, 2008

Starting today it will be lowered from 11.25% to 11%.

The basic passive rate is an average of the interest rates for saving in colones at terms of 150 days (5 months) and 210 days (7 months) and is calculated by the Central Bank.

More on this topic

Base Rate in Costa Rica Hits Highest Point this Year

July 2012

The Passive Base Rate has increased by 50 base points and now stands at a level of 10%.

The indicator has again hit the highest value reached in 2012, having been at the same value between 10 and 22 May 2012 and between May 31 and June 13, 2012.

The passive base rate is calculated by the Central Bank and is a weighted average interest rates of savings in colones for periods ranging from 150 days (5 months) and 210 days (7 months).

Basic Rate Keeps Falling in Costa Rica

October 2009

The Basic Passive Rate dropped a quarter of a percentage point to 9%, its fourth consecutive decrease.

After this reduction, the Basic Passive Rate is now at its lowest level since September 2008.

"This new decrease coincides with a modification in the rates paid by Central Bank securities on Friday", reports Elfinancierocr.com.

Basic rate goes up to 11.25% in Costa Rica

November 2008

The rate increase of half a percentage point, effective today, bring the interest rate to 11.25% until November 26, the Central Bank reported.

Competition among financial intermediaries to attract resources from important clients is one of the main reasons that caused the basic passive rate to go up half a percentage point this week.

Basic interest rate lowered to 10% in Costa Rica

November 2008

The basic passive rate dropped half a point to 10% between today and November 11, the Central Bank reported.

Week before last, the percentage had dropped from 11% to 10.75% and last week it went from 10.75% to 10%.

The basic passive rate is an average of the interest rates for savings in colones for terms between 150 days (5 months) and 210 days (7 months) calculated by the Central Bank.

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