Prime Rate Drops to 8.9%

The Banco Central de Costa Rica (BCCR) – Central Bank – lowered the prime rate starting today (Thursday) to 8.90%, a 0.15 point reduction from Wednesday’s 9.05%.

The decrease is part of a series of reductions that began last October when the prime rate was 11%.

According to Central Bank officials, the 8.9% will stay in place at least one week, before the bank announces any changes.