The Effective Rate in Dollars increased from 2.72% to 2.77%, while the Basic Passive Rate decreased from 6.20% to 6.15%.
The Central Bank of Costa Rica published the afternoon of Wednesday March 20 that after a week of rising, the Basic Passive Rate registered a negative variation and will remain at 6.15% until next March 27. [GRAFICA caption="Click to interact with graphic"]
In Costa Rica, the government's strong need for financing and the Central Bank's exchange rate interventions have been putting pressure on the local financial market, pushing up passive rates in Colones.
The decrease in liquidity in Colones generated by the pressure exerted by the government and the Central Bank in the local market is the main reason behind the upward trend in passive rates in local currency.
Between May and September 2018, an increase was reported in the proportion of loans with payment arrears greater than 90 days, but between October and December the trend was downwards.
Data from the General Superintendence of Financial Entities (Sugef) indicate that between September and December 2018, the proportion of loans with payment arrears greater than 90 days, or in judicial collection, decreased from 2.58% to 2.14%.
The Basic Passive Rate increased from 6.10% to 6.25%, while the Effective Rate in Dollars slightly increased, from 2.80% to 2.81%.
The Central Bank of Costa Rica published on Wednesday afternoon February 27 that after registering a 0.10% decrease the previous week, the Basic Passive Rate increased by 0.15%, and will remain at 6.25% until next March 6.
The Effective Rate in Dollars increased from 2.80% to 2.85%, while the Basic Passive Rate decreased from 6.25% to 6.15%.
The Central Bank of Costa Rica published the afternoon of Wednesday February 6 that after two weeks of rising, the Basic Passive Rate registered a negative variation and will remain at 6.15% until next February 13. [GRAFICA caption="Click to interact with graphic"]
The Basic Passive Rate increased from 6.15% to 6.25%, while the Effective Rate in Dollars increased from 2.59% to 2.80%.
The Central Bank of Costa Rica published on January 30 that after recording a rise last week, the Basic Passive Rate increased 0.10%, and the level at which it will remain until next Wednesday, February 6 is 6.25%.
The basic passive rate is an average of the collection rates in colones of the financial entities in terms of 150 to 210 days.
The Basic Passive Rate continued its upward trend and this week went from 6.10% to 6.15%, while the Effective Rate in Dollars decreased from 2.66% to 2.59%.
The Central Bank of Costa Rica published on Wednesday afternoon January 23 that for the third consecutive week the Basic Passive Rate registered a positive variation and will remain at 6.15% until next January 30.
The Effective Rate in Dollars increased from 2.57% to 2.66%, while the Basic Passive Rate increased from 6.05% to 6.10%.
The Central Bank of Costa Rica published on Wednesday afternoon January 16th that for the second consecutive week the Basic Passive Rate registered a positive variation and will be at 6.10% until next January 23rd.
The basic passive rate is an average of the collection rates in colones of the financial entities in 150 to 210-day terms.
The Basic Passive Rate increased from 6% to 6.05%, while the Effective Rate in Dollars went up from 2.52% to 2.57%.
The Central Bank of Costa Rica published on January 9 that after not registering variations last week, the Basic Passive Rate increased 0.05%, and the level at which it will remain until next Wednesday, January 16 is 6.05%.
The basic passive rate is an average of the collection rates in colones of the financial entities in terms of 150 to 210 days.
The Effective Rate in Dollars fell from 2.66% to 2.52%, while the Basic Deposit Rate registered no variations and remained at 6% for the second consecutive week.
On Wednesday afternoon, January 2nd, the Central Bank of Costa Rica published that after the 0.05% increase of two weeks ago, the Basic Passive Rate did not change and will remain at 6% until next Wednesday, December 9th.
The Effective Rate in Dollars fell from 2.52% to 2.47%, while the Basic Passive Rate increased from 5.80% to 5.85%.
The Central Bank of Costa Rica published on Wednesday afternoon, December 12th, that after the 0.05% decrease of last week, the Basic Passive Rate registered an increase and will remain at 5.85% until next Wednesday, December 19th. [GRAFICA caption="Click to interact with graphic"]
The Basic Passive Rate decreased from 5.75% to 5.70%, while the Effective Rate in Dollars also decreased, from 2.35% to 2.31%.
The Central Bank of Costa Rica published on Wednesday afternoon November 21st that after registering a rise of 0.10% the previous week, the Basic Passive Rate fell by 0.05%, and will remain at 5.70% until next November 28th.
Because of the adjustments made by the Central Bank to interest rates in recent days, financial institutions in Costa Rica will be forced to raise interest rates on savings in local currency.
Arguing that forecasts suggest that inflation in 2019 could be above the upper limit of the target range, on November 1st the Central Bank of Costa Rica (BCCR) decided to raise the monetary policy rate from 5% to 5.25%.
The Basic Passive Rate decreased from 5.80% to 5.65%, while the Effective Rate in Dollars also decreased, from 2.46% to 2.34%.
The Central Bank of Costa Rica published on Wednesday afternoon November 7th that after not registering a change the previous week, the Basic Passive Rate fell 0.15%, and will be kept at 5.65% until next November 14th. [GRAFICA caption="Click to interact with graphic"]
The Effective Rate in Dollars increased from 2.33% to 2.46%, while the Passive Basic Rate remained at 5.80% for the second consecutive week.
On Wednesday afternoon, October 31st, the Central Bank of Costa Rica published that after the 0.05% increase of two weeks ago, the Basic Passive Rate did not change and will remain at 5.80% until next Wednesday, November 7th. [GRAFICA caption="Click to interact with the graph"]