In Costa Rica, the Effective Rate in Dollars increased from 2.43% to 2.54%, while the Basic Passive Rate remained unchanged.
The Central Bank of Costa Rica published on Wednesday afternoon August 14 that after the decrease of two weeks ago, the Basic Passive Rate did not change and will remain at 5.80% until next August 21.
The basic passive rate is an average of the collection rates in colones of financial institutions with terms of 150 to 210 days.
In Costa Rica, the Effective Rate in Dollars fell again, this time from 2.51% to 2.43%, while the Basic Passive Rate also fell, in this case from 5.90% to 5.80%.
The Central Bank of Costa Rica published on Wednesday afternoon, August 7, that after having registered increases in previous weeks, the Basic Passive Rate registered a negative variation and will remain at 5.80% until next August 14. [GRAFICA caption="Click to interact with graphic"]
In Costa Rica, the Effective Rate in Dollars fell from 2.70% to 2.51%, while the Basic Passive Rate also fell, in this case from 6.10% to 5.90%.
The Central Bank of Costa Rica published on Wednesday afternoon August 31 that after a week of rising, the Basic Passive Rate registered a negative variation and will remain at 5.90% until next August 7.
The basic passive rate is an average of the collection rates in colones of financial institutions with a 150 to 210-day term.
The Basic Passive Rate rose from 6% to 6.10%, while the Effective Rate in Dollars also increased from 2.64% to 2.70%.
The Central Bank of Costa Rica published on Wednesday afternoon July 24 that after registering a decrease the previous week, the Basic Passive Rate increased by 0.20%, and will remain at 6.10% until next Wednesday July 31. [GRAFICA caption="Click to interact with graphic”]
Arguing that there are deflationary pressures and that the unemployment rate remains high, the Central Bank reduced the Monetary Policy Rate from 4.5% to 4%.
This would be the fourth reduction in the Monetary Policy Rate made by the Central Bank of Costa Rica (BCCR) so far this year, since at the beginning of 2019 was at 5.25% and is currently reduced to 4%.
After last week in Costa Rica the rate rose to 6.65%, a level that had not been recorded since August 2015, on July 10 abruptly decreased to 6%.
Data published by the Central Bank of Costa Rica on Wednesday afternoon, July 10, show that the Basic Passive Rate (PBS) decreased by 0.65%, and will remain at 6% until next July 17.
The basic passive rate is an average of the collection rates in colones of financial institutions with terms of 150 to 210 days.
Because savers in Costa Rica have moved their resources to longer terms, to avoid an increase in income tax, the Basic Passive Rate rose to 6.65%, a level not recorded since August 2015.
According to data published by the Central Bank of Costa Rica on Wednesday afternoon, July 3, the Basic Passive Rate (BPR) reports levels not reached since August 26, 2015, and will remain at 6.65% until next July 10.
In Costa Rica, the Basic Passive Rate increased to 6.55%, a level that had not been recorded for four years, while the Effective Rate in Dollars also increased, in this case to 3.14%.
According to data published by the Central Bank of Costa Rica on Wednesday afternoon, June 26, the Basic Passive Rate reports levels that did not reach since last September 30, 2015 and will remain at 6.55% until next July 3.
Arguing that deflationary forces persist and that a low rate of economic activity is reported, the Central Bank decided to reduce the Monetary Policy Rate to 4.50%.
This is the third reduction made by the Central Bank of Costa Rica (BCCR) so far this year, since at the end of March it decided to reduce the monetary policy rate from 5.25% to 5% and in May from 5% to 4.75%.
A greater supply of dollars, high local interest rates and a decrease in imports of durable goods explain the decreasing trend of the exchange rate in Costa Rica, which on June 18 reached the lowest level of the year.
In 2018, the dollar price against the Colon was on an upward trend, however, between February 6 and mid-June of this year, there has been a fall of up to 28 colones per dollar. [GRAFICA caption="Click to interact with graph"]
In Costa Rica, the Basic Passive Rate keeps on rising and this week increased from 6.30% to 6.35%, while the Effective Rate in Dollars decreased from 2.99% to 2.92%.
The Central Bank of Costa Rica published on Wednesday afternoon June 12 that after remaining unchanged the previous week, the Basic Passive Rate increased by 0.05%, and will remain at 6.35% until next June 19.
The effects of the reduction in the Monetary Policy Rate and the lowering to 12% of the minimum legal reserve for banks will take months to be perceived, and without other parallel actions that impact the business sector more quickly and effectively, the economic reactivation of Costa Rica will not be possible in the short term.
According to the latest report of the Central Bank of Costa Rica (BCCR), when comparing the level of economic activity recorded in March this year with the same month of 2018, it is observed that most economic activities slow down their growth, which was reflected in the slowdown of the general indicator. See full report.
The Effective Rate in Dollars increased from 2.88% to 2.99%, while the Basic Passive Rate did not report changes, in this case it will remain at 6.30%.
The Central Bank of Costa Rica published on Wednesday afternoon June 5 that after the increase of two weeks ago, the Basic Passive Rate did not change and will remain at 6.30% until next June 12. [GRAFICA caption="Click to interact with graph"]
The Basic Deposit Rate increased from 6.20% to 6.30%, while the Effective Rate in Dollars increased from 2.81% to 2.88%.
The Central Bank of Costa Rica published on Wednesday afternoon May 29 that after remaining unchanged the previous week, the Basic Passive Rate increased by 0.10%, and will remain at 6.30% until next June 5.
The basic passive rate is an average of the collection rates in colones of financial institutions in terms of 150 to 210 days.