According to the Central Bank of Costa Rica, on October 6th, the basic passive rate (TBP) will drop to 4.65%. It is its lowest level in the last 8 years.
This week decline is the result of reductions in the rates that have been correctly paid. It was carried out by public banks and mutual societies.
As consequence, the indicator is located 130 basis points below the level at which it started 2016 and 5 basic points less than a week ago.
The basic rate is used as a reference to calculate monthly assessments of some long-term loans in local currency.