International Reserves in Costa Rica
Costa Rica - International ReservesThe economy likely regained traction in the third quarter, after growth slowed to a near one-decade low in Q2. Economic activity growth accelerated in September for the third consecutive month, likely in part on a small reduction in the unemployment rate from the previous month. However, despite the five separate interest rate cuts made by the Central Bank in the first nine months of the year, bank lending decreased in Q3 for the first time in nine years amid a slump in business and consumer confidence in the quarter. Moreover, the new VAT introduced in July will have further suppressed the economy in Q3. Turning to the fourth quarter, growth should gain further steam, as suggested by an uptick in consumer confidence in the quarter. Furthermore, recent interest rate cuts should gradually support bank lending, benefiting private consumption and fixed investment.
Costa Rica - International Reserves Data
|International Reserves (USD)||7.3||7.2||7.8||7.6||7.1|
5 years of economic forecasts for more than 30 economic indicators.
Costa Rica International Reserves Chart
Source: Costa Rica Central Bank and FocusEconomics calculations.
Costa Rica Facts
|Exchange Rate||568.9||-0.57 %||Nov 21|
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November 20, 2019
At its 20 November monetary policy meeting, the Central Bank of Costa Rica left the key policy interest rate unchanged at 3.25%, keeping it at its lowest level since May 2017.
November 12, 2019
Annual economic growth in cyclically-adjusted terms accelerated to 2.0% in September from August’s revised 1.7% reading (previously reported: +1.6% year-on-year).
November 7, 2019
Consumer prices fell 0.1% in October in month-on-month terms for the third consecutive month, partly due to the continued high-base effect stemming from the introduction of VAT in July, which replaced the old sales tax.
October 30, 2019
At its 30 October monetary policy meeting, the Central Bank of Costa Rica took market analysts by surprise and cut the key policy interest rate to 3.25% from 3.75%.
October 10, 2019
Annual economic growth in cyclically-adjusted terms accelerated to 1.6% in August from July’s revised 1.4% reading (previously reported: +1.5% year-on-year).