The Passive Base Rate has fallen to 4.35%, while the effective tax rate in Dollars dropped from 2.08% to 1.96%.
The Central Bank of Costa Rica (BCCR) released on Wednesday afternoon on December 7, news that the passive base rate reached a record low of 4.35%, very close to 4.25%, the lowest level reached by the base rate since records began in 2008.
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The passive base rate fell back down to 4.55%, while the effective rate in dollars went down from 2.11% to 2.08%.
The Central Bank of Costa Rica issued on Wednesday afternoon, November 30, news that the passive base rate dropped to the same level it was at two weeks ago, meaning that the rate will remain at 4.55% until Wednesday 7 December.
The passive base rate rose from 4.50% to 4.60%, while the effective rate in dollars rose from 1.93% to 2.11%.
BancoCentral deCosta Ricareleased news on Wednesday afternoon on November 23 that the passive base rate rose by 0.10%, meaning that the rate will remain at 4.60% until Wednesday November 30.
The basic passive rate rose from 4.50% to 4.55%, while the effective tax rate in dollars dropped from 2.03% to 2.00%.
The Central Bank of Costa Rica (BCCR) released on Wednesday afternoon on November 9 news that the passive base rate rose by 0.05%, meaning that it will stand at 4.55% until at least Wednesday, November 16.
The passive base rate in colones has fallen once again, reaching the record low value of 4.65%, while the effective tax rate in dollars rose from 2.01% to 2.05%.
The Central Bank of Costa Rica (BCCR) released on Wednesday afternoon on Oct. 5 news that the passive base rate will stand at 4.65%, until Wednesday October 12, the lowest value for this rate since 2008.
The passive base rate in colones still stands at 4.7%, the lowest value since 2008, while the effective tax rate in dollars rose from 1.91% to 2.01%.
The Central Bank of Costa Rica (BCCR) released late on Wednesday September 28, news that the passive base rate will stand at 4.70%, until Wednesday October 5. This is its lowest value so far this year.
The passive base rate in colones fell from 4.90% to 4.75%, while the effective tax rate in dollars rose from 2.04% to 2.08%, where it will remain until September 14.
The Central Bank of Costa Rica (BCCR) released late on Wednesday September 7, news that the passive base rate will stand at 4.75%, until Wednesday September 14. This is its lowest value so far this year.
The passive base rate in colones once again stands at 4.90%, while the effective rate in dollars remains unchanged at 2.04%, a rate at which it will remain until September 7th.
The Central Bank of Costa Rica (BCCR) released on Wednesday afternoon on August 24 news that passive base rate will stand at 4.90% until Wednesday September 7.
The passive base rate in colones rose from 4.90% to 5%, while the effective tax rate in dollars increased from 1.91% to 2.04%, where it will remain until August 31.
The Central Bank of Costa Rica (BCCR) released on Wednesday afternoon on August 24 news that the passive base rate will stand at 5.00% until at least Wednesday August 31.
The passive base rate in colones is still dropping, now to 4.90%, while the effective tax rate in dollars fell to 1.91%, where it will remain until August 24.
The Central Bank of Costa Rica (BCCR) released on Wednesday afternoon on August 10 news that passive base rate will remain stand at 4.90% until Wednesday August 24, reaching its lowest level so far this year .
The passive base rate in colones fell back to 5.05%, while the effective tax rate in dollars rose to 2.21%, where it will remain until August 10.
The Central Bank of Costa Rica (BCCR) released on Wednesday afternoon on August 3 news that the passive base rate will stand at 5.05% until at least Wednesday August 10.
The Central Bank of Costa Rica has started publishing the effective rate in dollars, which is a weighted average of the gross interest rates given for term deposits.
Calculation of the Effective Rate in Dollars
Week of 05/05/2016 to 11/05/2016
Public banks: Relative Weight: 0.4338 - Average Rate: 1.6084
Private Banks: Relative Weight: 0,5662- Average rate: 2.1677
The Central Bank of Costa Rica has suggested creating a benchmark rate for dollars, similar to passive base rate applied to the local currency, the Colón.
With the proposal, the Central Bank aims to "reflect the cost faced by financial intermediaries in the country of having funds in dollars," taking into account references for interest rates where entities are funded abroad and other external factors.