Costa Rica: Base lending rate rises 0.5%

Effective today, the base lending rate will be 5.5 per cent. It has risen by 1.25 per cent during May and June of this year.

Thursday, June 5, 2008

This means the Central Bank's base rate rises by 50 basis points.
It's the second increase since May 22, when the basic lending rate reached a historic low of 4.25 per cent.
The change will be carried out using the new methodology for calculating the variable, which broadens the intermediate rates, possibly causing them to go higher in the future.
Rates had been declining since January 2007, when they stood at 7 per cent.

More on this topic

Interest Rates Keep Dropping in Costa Rica

June 2013

The central bank has lowered its policy rate from 5% to 4%, while the passive base rate has dropped from 6.65% to 6.60%.

"The board of directors has observed a trend that reflects the absence of demand pressures, as evidenced by the decline in the pace of economic growth, according to a recent evolution of the Monthly Index of Economic Activity (MIEA).

Costa Rica: Passive Base Rate Rises to 10.25%

July 2012

After remaining between 9.5% and 10% over the past 45 days, the Passive Base Rate has resumed its upward path, reaching its highest level this year.

With this increase the rate reaches a level not attained since October 2009.

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

Basic interest rate lowered to 10% in Costa Rica

October 2008

After 12 consecutive increases since May, there was a reduction of 0.25% this week; the basic rate fell to 10%.

The basic passive rate is an average of the interest rates for savings in colones for terms of 150 days (5 months) and 210 days (7 months). It is used as a reference for loans.

Costa Rica's prime rate rises to 5.75%

July 2008

Effective today, the basic bond interest rate (TBP) in Costa Rica will rise 25 basis points to 5.75 percent, according to the nation's Central Bank.

The TBP appears to be in an uptrend after falling to a cyclical low of 4.25 percent on April 16, after touching 7.25 percent in january. Since April both public and private banks have been increasing their lending rates.

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