Costa Rica's Central Bank Rises Basic Rate to 7.25%

Starting tomorrow, December 2nd, the passive basic rate will raise 25 basis points.

Wednesday, December 1, 2010

According to an announcement by the Central Bank of Costa Rica, the rate will rise to 7.25% from the current 7%.

"With this move, the indicator recovered a little of what had lost a week ago, on November 25th, when it fell 75 points in a single setting," Elfinancierocr.com writes.

More on this topic

Costa Rica: Basic Rate Drops 50 Points

October 2012

After spending a week at 10.75%, the Central Bank set the passive base rate at 10.25%.

Elfinancierocr.com reports that the passive base rate (TBP in Spanish) "has been floating or above 10% for three months now. On July 19 it went from 9.5% to 10%."

The TBP is a weighted average calculated weekly by the Central Bank of Costa Rica on the savings rates of entities in the financial system of the country for fixed periods that are between 150 and 210 days.

Base Rate Rises to 10.5% in Costa Rica

September 2012

Starting tomorrow, Thursday September 27, the passive base rate will increase by 25 base points and will be stand at 10.50%.

The passive base rate will increase from 10.25% to 10.50% as a result of its weekly re-calculation.

The PBR is a weighted average calculated weekly by the Central Bank of Costa Rica from the uptake rates of entities in the country’s financial system for fixed periods that are between 150 and 210 days.

Base Rate Increases to 9.75% in Costa Rica

June 2012

The passive base rate has increased by 25 base points, reaching a level of 9.75%.

The rise reflects an increase in deposit rates of commercial public banks.

The average deposit rates in public commercial banks rose from 9.5% to 9.7%.

"The indicator is calculated by the Central Bank of Costa Rica and published every Wednesday.

Costa Rica: Basic Rate Down to 7.25%

December 2010

Maintaining its recent trend of high volatility, the base rate fell 50 basis points to 7.25%.

In the most recent inflation report, Banco Central de Costa Rica (BCCR) reveals one of the causes of this behavior which generates distortions to individuals and financial instruments that are linked to the national reference rate.

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