If you have debts in colones, pay attention, because the Central Bank reduced the Basic Passive Rate (TBP) in colones from 6.65% to 6%.
The TBP is a weighted average of the rates used by financial entities to pay for deposits or savings in colones. The TBP is used by financial institutions to set the rates they charge for their loans.
After being up during most of 2019, this indicator will suffer a considerable reduction for the first time this year. This decrease is equivalent to the increases seen in the last four or five weeks.
The indicator is expected to fall in the coming months due to the decrease in the Monetary Policy rate.