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Costa Rica Interest Rate

Last Release
Apr 26, 2024
Actual
4.75
Units In
%
Previous
5.25
Frequency
Daily
Next Release
N/A
Time to Release
N/A
Highest
Lowest
Average
Date Range
Source
10
Aug 2008
0.75
Jun 2020
5.18 %2006-2024Central Bank of Costa Rica
In Costa Rica, interest rate decisions are taken by the Central Bank of Costa Rica. The official interest rate is the monetary policy rate. The monetary policy rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

Latest Updates

The central bank of Costa Rica lowered its benchmark interest rate by 25 basis points to 6% during its policy meeting on December 20, 2023. The bank has now reduced its policy rate by an aggregate of 300 basis points since March. The board noted that central banks in advanced economies, especially in the US, signaled intention to cut interest rates amid easing inflation. Meanwhile, Latin American economies continued with gradual reductions in policy rates. The central bank also said that while economic growth and employment remained robust, headline and core inflation rates in the country have posted well below targets in November. Easing domestic inflationary pressures were attributed to the reversal of global supply shocks, leading to a decline in raw materials and transportation costs, leading to lower food prices.

Costa Rica Interest Rate History

Last 12 readings

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