Policy Interest Rate in Costa Rica
The Policy Interest Rate (%, eop) ended 2024 at 4.00%, down from the 6.00% end-2024 value and down from the reading of 5.25% a decade earlier. For reference, the average interest rate in Central America and Caribbean was 4.95% at end-2024. For more information on interest rate, visit our dedicated page.
Costa Rica Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Costa Rica from 2025 to 2023.
Source: Macrobond.
Costa Rica Interest Rate Data
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Policy Interest Rate (%, eop) | 0.75 | 1.25 | 9.00 | 6.00 | 4.00 |
Basic Rate (%, eop) | 3.50 | 2.90 | 6.35 | 5.36 | 4.13 |
Central Bank decreases rate in September
Central Bank extends easing cycle: At its meeting on 18 September, the Central Bank of Costa Rica (BCCR) decided to reduce its policy interest rate by 25 basis points to 3.50%, marking the second consecutive cut.
Muted price pressures drive the cut: Key factors behind the Central Bank's decision included inflation trending downward and hovering below the 2.0–4.0% target range, partly due to severe external and climatic shocks. Inflation expectations point to a slight pickup, with prices seen rising toward the lower limit of the target range, while economic activity remains high and near potential.
BCCR to stay on hold: The Central Bank did not provide specific forward guidance on future interest rate decisions. Almost all of our panelists expect the BCCR to stand pat through the remainder of 2025. The next meeting is set for 23 October.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Costa Rican interest rate projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Costa Rican interest rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Costa Rican interest rate projections.
Want to get access to the full dataset of Costa Rican interest rate forecasts? Send an email to info@focus-economics.com.
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