The Central Bank reported that as of the 12th and until at least the 18th of September the PBR will rise 0.05% going from 6.50% to 6.55%.
Elfinancierocr.com publica: “Según el cálculo del Banco Central de Costa Rica (BCCR), el indicador se incrementó por aumentos en las tasas de captación (ahorros) de los bancos públicos, cooperativas de ahorro y crédito y las mutuales. Solamente los bancos privados disminuyeron los rendimientos en la semana de cálculo”.
The Central Bank of Costa Rica reported that from 23 and until at least until May 30, the BPR will remain at 6.70%.
"The passive base rate (PBR) shows a trend of stability in the short term, particularly from the end of March until the 29th of May, when the most recent calculation of this indicator came into effect ...", reported Elfinancierocr.com.
The Central Bank of Costa Rica reported that as of May 9 the passive base rate will be set at 6.70%, down 0.05% from the previous week.
"With this reduction, the basic passive rate (TBP) reaches its lowest level since February 2008. At the beginning of this 2013, the indicator was at 9.20%, so it has lost 2.5% in just four months. A year ago, the TBP was by 10%," noted an article in Elfinancierocr.com.
The PBR has been set, from now until May 1st, at 6.75%, down 0.15% from the previous week, when it stood at 6.90%.
With this new low announced by the Central Bank of Costa Rica, the passive base rate (PBR) has lost 2.75% since Dec. 20 when the current period of decline began.
After three consecutive weeks at 6.95%, the PBR in Costa Rica dropped today to 6.90%.
According to the latest update by the Central Bank of Costa Rica (BCCR), this week the base lending rate (PBR) will drop to 6.90%, the lowest level of indicator in 2013, which started out in January at 9.20%.
The basic passive rate will be located from 7 March at 7.25%, the lowest in the past 18 months, after having reached 11% earlier in October.
Gabriel Alpizar, financial risk manager at the Bank of Costa Rica, said that "the main reason for the fall of the base rate lies in the fact that there is an abundant liquidity in colones which the central bank has made in recent months, adjusting this macroprice which is fundamental to our economy", noted an article in Crhoy.com.
The reduction is significant and moves the indicator away from the 11% reached just two months ago, but is still two percentage points above its November 2011 level.
From the Blog Pulso Bursátil by Aldesa:
The base rate fell again today, closing at 9.50%, according to the Central Bank of Costa Rica, which calculates the indicator.
The base rate (BPR) has gone up half a percentage point to stand at 11%, the highest value so far this year.
"This week, the calculation of the BPR was influenced by increases in the average Treasury rates, which increased from 9.96% to 10.01%, and public banks rising from 10.87% to 11 , 05%, according to the Central Bank's website. Some 400,000 loans with public banks alone are linked to the movements of the BPR", reports Nacion.com
Is a reduction in the base rate (BPR) sustainable?
From an article by Aldesa:
The passive rate base fell from 10.5% to 10.25% as a result of its weekly calculation.
Dis aggregating the components of the weekly calculation that determines the level of the base rate, there was a decrease of 51 base points (0.51%) in interest rates paid by public banks for deposits in colones on terms of between 150 and 210 days .
With a decline of half a percentage point, the rate will stand at 10% starting the September 6.
The average drop on deposit rates of commercial banks (from 10.64% to 10.03%) drove down the passive base rate (PBR).
"The PBR is a weighted average calculated weekly by the Central Bank of Costa Rica on the uptake rates of the entities in the country’s financial system for periods that are between 150 and 210 days. Investment in securities and loans are tied to this indicator representing the variable component in these operations.
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).
The Passive Base Rate has increased by 50 base points and now stands at a level of 10%.
The indicator has again hit the highest value reached in 2012, having been at the same value between 10 and 22 May 2012 and between May 31 and June 13, 2012.
The passive base rate is calculated by the Central Bank and is a weighted average interest rates of savings in colones for periods ranging from 150 days (5 months) and 210 days (7 months).
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