Thursday 29 September 2022

Costa Rica Rising Interest Rates

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28 September 2022 - At The Banks - BCCR

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The Basic Passive Rate (Tasa Básica Pasiva –  TBP) rose from 5.50% to 5.60%, while the Effective Rate in Dollars (Tasa Efectiva Dólares – TED) also rose, in this case from 2.33% to 2.39%.

The Banco Central de Costa Rica (BCCR) –  Central Bank – published on Wednesday afternoon November 13 that after registering a decrease the previous week, the Basic Passive Rate rose by 0.10%, and will remain at 5.60% until next Wednesday, November 20.

The TBPrate is an average of the collection rates in colones of financial institutions with terms of 150 to 210 days.

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The Central Bank also reported that after the 0.06% increase in the TED recorded last week, the present rate rose again and will stand at 2.39% over the next 7 days.

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