Wednesday 22 September 2021

Costa Rica: Prospects for Interest Rates in 2015

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shutterstock_135275843-46326Economists anticipate stability in the first half and an increase towards the second half of the year, depending on how much delay there is in measures to reduce the fiscal deficit.

Taken from Pulsobusatil.com, a Blog by Aldesa :

The passive base rate started the year at 6.5% and on Wednesday the Central Bank of Costa Rica (BCCR) reported that for one more week it will remain at 7.2%; representing an increase of 70 basis points. The growth was due to two factors: a preference of Costa Rican colones for loans and continued fiscal deficit.

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What is in store for 2015?

For the first part of the year pretty stable interest rates in colones is expected. This because the government will issue the last tract of Eurobonds, which not only reduces the need to raise money in the local market, but also affects the expectations of investors.

Credit in national currency, although continuing to grow, is doing so at lower rates than in midyear; this behavior will be maintained in the next period, which reduces the need to raise money from financial institutions.

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