Saturday, 24 October 2020

Costa Rica Lowers Prime Rate

While the dollar exchange quickly returns to pre-Christmas levels, the prime rate – Tasa Básica Pasiva (TBP)- keeps on dropping, providing a respite to debtors in colones.

The rate has fall for the third consecutive week. The Banco Central de Costa Rica (BCCR) dropped the rate to 9.05% which will affect an estimated 450.000 people with debts in colones.

A positive aspect of the drop is that loans are now much cheaper than when the prime rate was 12% six months ago.

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