Q COSTA RICA BUSINESS – The Passive Base Rate (Tasa Básica Pasiva in Spanish) rose from 4.55% to 4.60%, while the effective rate in dollars rose from 2.14% to 2.24%.
The Central Bank of Costa Rica (Banco Central or BCCR) last Thursday (February 2) raised for a second straight weet the passive rate.
The Central Bank sets interest rates each Thursday.
The Passive Base Rate is an average of the deposit rates given by financial institutions for maturities of 150-210 days.
The Central Bank also reported that the Effective Rate in U.S. Dollars (Tasa Efectiva en Dólares in Spanish – TED) increased for the fourth consecutive week and for the next seven days will remain at 2.24%. (see chart).
The PPassive Base Rate and TED, as the dollar exchange rate can be found on the Front Page of Q Costa Rica and is updated daily.