This value is the same as that reported on June 21.
"In the calculation published today and which will come into force on July 5, public commercial banks lowered their interest rates from 9.7% to 9.58% and being the most important in the weighting the PBR was lowered", reports Elfinancierocr.com
The Passive Base Rate is calculated every Wednesday by the Central Bank of Costa Rica, and the rate becomes effective the next day, Thursday.
After dropping a quarter of a percentage point, the rate now stands at 8%, its lowest level since August 2008.
The Basic Passive Rate is calculated each Wednesday by the Central Bank of Costa Rica.
"The basic rate is a weighted average of interest rates paid by financial entities, Central Bank and the Treasury, for maturities between 5 and 7 months, and is also used as a reference for loans", reported Nacion.com.
The decrease came after it had remained stable at 11.50% for the last three weeks.
The above is according what the Central Bank of Costa Rica published.
Edgard Delgado Montoya wrote in the El Financiero website: "The TBP (Base Passive Rate) is an average of the rates collected by financial intermediaries, the Central Bank and the Ministry of Finance, at terms between five and seven months.
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