QCOSTARICA – Have you seen an increase in your loan payments? Pay close attention, since the Tasa Básica Pasiva (TBP) – Passive Basic Rate – experienced an increase again this Thursday and stood at 5.68%.
Since July, the Banco Central (Central Bank) modified the calculation of the TBP, defined as “a weighted average of the gross deposit interest rates in colones, negotiated by the financial intermediaries in the country and the interest rates of the deposit instruments of the Central Bank and the Ministry of Finance”.
Specifically, it is the reference indicator for almost 700,000 loans in colones at variable interest.
As the price of money becomes more expensive, the interest that the public’s savings in financial institutions will receive will be greater, but the cost of these loans taken out at variable rates will also increase.
Juan Pablo Arias, an economist at the Bolsa Nacional de Valores (BNV) – National Stock Exchange, commented that the rate has doubled so far this year and that the upward trend will continue throughout the year and could even reach 8%.
The PBR will be at 5.68% until next September 28, when the Central Bank makes a review.