Wednesday, 25 November 2020

Costa Rica Base Rate Drops to 7.20%

The statues at the front of the Banco Central building in downtown San José
The statues at the front of the Banco Central building in downtown San José

QCOSTARICA – After having stood at 7.25% last week, the passive base rate has returned to 7.20%, a level at which it will remain at until at least January 21.

The Banco Central de Costa Rica (BCCR) – Costa Rica’s Central Bank, reported that the basic borrowing rate, an indicator of the average interest rates given on savings by financial institutions for maturities of 150-210 days, will be 7.20%, at least until January 21 2015.

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The benchmark interest rate on loans and investments decreased by 0.05% compared to the level at which it stood a week ago.

The Central Bank reviews the rate every Wednesday, taking effect on the following day’s start of business.

 

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