The basic passive rate (TBP) will rise from to 5.95% and will remain at that figure at least until December 27th when the Central Bank will update the indicator again.
At this level, the rate is 150 basis points above the level it was in at the end of 2016.
This rate is used as a reference for calculating the installments that long-term loans in national currency must pay, and to determine the interests of some investments in colones.
The interest actually paid by banks (public and private), financial cooperatives and mutuals is taken into account to determine the level of the rate.
Between the end of May and mid July, the TBP increased in an accelerated way, going from 4.45% to 6%. Since that date, it has remained at similar levels.