Monday 20 September 2021

Costa Rica Interest Rates Continue to Rise

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The Banco Central de Costa Rica (BCCR) main building in downtown San Jose

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.

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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.

Sources: Centralamericandata.com; Banco Central de Costa Rica

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"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

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