Costa Rica's Base Rate Drops to 6.70%

The Central Bank of Costa Rica reported that as of May 9 the passive base rate will be set at 6.70%, down 0.05% from the previous week.

Wednesday, May 8, 2013

"With this reduction, the basic passive rate (TBP) reaches its lowest level since February 2008. At the beginning of this 2013, the indicator was at 9.20%, so it has lost 2.5% in just four months. A year ago, the TBP was by 10%," noted an article in Elfinancierocr.com.

A survey of economists conducted by the Central Bank of Costa Rica estimates that inflation will be around 6.4% within 12 months.



More on this topic

Base Rate in Costa Rica Stays at 6.70%

May 2013

The Central Bank of Costa Rica reported that from 23 and until at least until May 30, the BPR will remain at 6.70%.

"The passive base rate (PBR) shows a trend of stability in the short term, particularly from the end of March until the 29th of May, when the most recent calculation of this indicator came into effect ...", reported Elfinancierocr.com.

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.

Costa Rica Lowers Base Rate to 11.50%

April 2009

Beginning today, the base passive was lowered one quarter-point from 11.75% to 11.50%.

For the second consecutive week, the base passive rate decreased and now sits at 11.50%. However, according to a note by El Financiero Costa Rica, “it has been moving up and down since last October, although with an upward trend."

Passive Basic Rate in Costa Rica down to 10,75%

October 2008

The new Passive Basic Rate in Costa Rica now stands at 10.75%, down 0.25% from 11%.

This reduction means good news, at least for a week, for those who own loans indexed to the Basic Rate, as monthly payments will decrease.
Economist Alberto Franco considers that this small downward movement is normal, but it does not imply a shift in the upward trend of the interest rates in the country.

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