On 9 May, the Central Bank of Costa Rica (BCCR) announced that the passive basic rate rose to 10.0% from 9.50% effective on 10 May, the highest level since September 2009. With the recent rise, the basic rate continues the upward trend in place since the start of the year, when the rate stood at 8.75%. The passive basic rate, calculated by the BCCR, is the weighted average of interest rates of local currency denominated deposits between 150 and 210 days negotiated by local financial institutions and interest rates of fund raising instruments from the Central Bank and the Ministry of Finance, both negotiated in the primary and secondary markets.
Costa Rica Monetary Policy
Central Bank announces higher basic rate
May 10, 2012
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Costa Rica Economic News
October 12, 2016
In August, economic activity slowed down slightly to a 4.5% increase from the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica).
October 10, 2016
Consumer prices fell 0.47% in September from the previous month, which contrasted August’s 0.03% increase and marked the lowest reading since March 2016.
October 3, 2016
In the second quarter of 2016, GDP expanded 4.1% over the same period last year.
September 12, 2016
In July, economic activity slowed down slightly to a 5.1% increase over the same month last year, according to the monthly index of economic activity (IMAE, Indice Mensual de Actividad Economica).
September 7, 2016
Consumer prices increased 0.03% over the previous month in August, which was a significant slowdown compared to July’s 0.93% increase.