Costa Rican Central Bank Raises Base Interest Rate to 7.75%

From today BCCR sets the Deposit Rate ('Tasa Básica Pasiva') rises 0.25 percentage points to 7.75%.

Thursday, September 23, 2010

The interest rate hit its lowest rate in two years last week when it was set at 7.5%.

Juan Pablo Arias, writing for Nacion.com, comments that, "on 19 August, Costa Rica's Central Bank (BCCR) cut the rate used to manage monetary policy to 7.5% and also reduced rates that apply to deposits offered online via Internet".

More on this topic

Basic Interest Rate Reaches 8.5% in Costa Rica

January 2012

From today the basic passive rate (TBP in Spanish) rose half a percentage point to settle at 8.5%, a level not seen since May 2010.

"The increase was caused by higher deposit rates at state-owned banks, which are the entities that carry the most weight in the definition of the TBP.

Basic Rate in Costa Rica up to 7.75%

January 2011

With an increase of a quarter of a percentage point, the Basic Passive Rate is at 7.75%.

The basic passive rate is calculated each Wednesday by the Central Bank of Costa Rica.

"According to measurements by the Center for Research in Economics at the University of Costa Rica, this year the TBP will hover between 8% and 9%," stated Leticia Vindas in her article on El Financiero.

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.

Costa Rica: Basic interest rates drops to 10.5%

October 2008

The basic passive rate went down another quarter point this week to 10.5% and will remain there until November 5, the BCCR reported today.

Last week said percentage dropped from 11% to 10.75%.

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