From April 27th, the Monetary Policy Rate (TPM) increased to 2.50%.
This is the second increase of the year: the last one was on April 6th when it went from 1.75% to 2.25%.
This indicator, also known as “guideline rate”, is a monetary policy tool that can be used by the Central Bank to promote adjustments in the economy.
According to the monetary authority, economic agents continue to show a greater preference for financial savings in foreign currency, which negatively affects the effectiveness of monetary policy and indirectly pushes inflationary expectations upwards.
AIn addition, an increase in underlying inflation, an indicator that identifies medium-term inflationary trends and on which monetary policy can act, is also affecting the TPM.
Interest rates in both colones and dollars are receiving upward pressure both inside and outside Costa Rica.