The main benchmark rate for loans will remain at that level until at least February 26th.
The Central Bank of Costa Rica has announced that for the second consecutive week and at least until February 26th, the passive base rate will remain at 6.50%.
That level "was the lowest rate recorded during 2013 and was reached for the first time on September 5 of that year."
The main reference for interest rates on loans in Costa Rica will be set at 6.50% until at least 19 February.
The Central Bank of Costa Rica announced that at least until February 19 the passive base rate will be 6.50%, 0.05% less than the previous week when it stood at 6.55%.
"The level of 6.50% is the lowest rate registered during 2013 and was reached for the first time on September 5 of that year."
The Central Bank of Costa Rica reported that the main benchmark for loans will remain at that level until at least January 15.
Elfinancierocr.com reports: "The information represents an increase of 0.05 percentage points from its last recorded level, because the indicator started the year at a rate of 6.50%."
"According to the calculation of the Central bank, the rate increased is due to increases in deposit rates (savings) of public banks and mutual savings and loan companies."
The main indicator for loans in the country will remain at that level until at least December 19, 2013.
The Central Bank of Costa Rica reported that as of December 12 it will lower the PBR by 0.05% compared with the last recorded level which was 6.55%.
Elfinancierocr.com reports that "this percentage is the lowest recorded by the indicator so far in 2013 and it first reached this level on September 5."
From November 28 until December 4 the base rate will go from 6.60% to 6.55%.
Elfinancierocr.com reported that "it was on 25 July when the rate reached its present level (6.55%) for the first time so far this year. Since then, the rate has remained fluctuating between 6.60% and 6.50%. "
"The passive base rate is used as a guide for most loans in colones granted by financial institutions and is calculated based on the weighted performance rates of private and public banks and other financial intermediaries."
The Central Bank reports that, as of this November 14 and at least until 20 the TBP will drop from 6.60% to 6.55%.
Elfinancierocr.com reports: "The rate has been fluctuating between this percentage (6.60%) and the one reached on Wednesday (6.55%), since 12 October this year."
"The Base Rate is used as a guide for most loans in colones granted by financial institutions and is calculated based on the weighted performance of the rates of private and public banks and other financial intermediaries."
The Central Bank has reported that, as of this November 7th and at least until the 13th the PBR will rise from 6.55% to 6.60%.
Elfinancierocr.com reports: "According to the Central Bank's calculation, the rate increase is due to increases in deposit rates (savings) made by private banks and mutual savings and loan companies. Only credit unions decreased their yields, slightly, in the week the calculation was made. "
From the 24th until at least 30th of October the PBR will be lowered from 6.60% to 6.55%, said the country's central bank.
Nacion.com reports: "With this move, the rate once again reaches the percentage at which it has been constant since 12 September this year."
"For five consecutive weeks the rate remained at the same level of 6.55%, and was only interrupted last week when it recorded a rise and stood at 6.60% for a week".
The Central Bank of Costa Rica has reported that as of October 17th and until the 22nd the base rate will increase from 6.55% to 6.60%.
The PBR went up 0.50% after remaining for a month at 6.55%. In the same period of 2012, the rate stood at 10.75%.
Nacion.com reports: "The PBR is used as a guide for most loans in colones granted by financial institutions and is calculated using the weighted behavior rates of private and public banks and other financial intermediaries."
During the last twelve months the returns given by state banks to their clients for savings in colones rather than dollars decreased by 2.6 % .
A financial report by the Central Bank of Costa Rica (BCCR) explains that "the data shows that the average differential in savings with a term of six months, closed at 1.46 points in September. But that margin was four points in the same period of 2012 ... ", reported Nacion.com.