QCOSTARICA — If you have loans in colones, you will pay less in your installments in the medium term since the basic passive rate will be 5.21% (previously 5.24%).
In addition, the effective rate in dollars was raised to 3.36% (from 3.33%), both coming into force today, February 1, 2024.
This decision of the financial system responds to the fact that the Board of Directors of the Banco Central (Central Bank) has been reducing the monetary policy (or reference) rate since March 2023, reduced from 9% to 6.50%, and these reductions were based on an analysis of the behavior of inflation, the expected evolution of this variable and its determinants, as well as the assessment of the existing risks, based on which the Central Bank Board of Directors considered that there was room to promote a less restrictive monetary stance.
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The changes should be gradual and prudent, affirms the Central Bank Board of Directors to react in a timely manner and in the appropriate direction.
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