The central bank of Costa Rica kept its benchmark interest rate unchanged at 9% during the meeting on January 25, 2023, holding the ground amid cooling inflation but maintaining a restrictive stance as global inflation levels remained elevated and upside risks to prices persisted. The annual inflation rate in Costa Rica slowed for the fourth consecutive month to 7.88% in December 2022 but missed the central bank’s target of around 3%. Inflation expectations in the country suggested that price pressures would ease further in the coming months and return to the target range in the last quarter of 2023. Previously, the bank lifted its policy rate by an aggregate of 825 basis points to 9% from December 2021 to October 2022. source: Central Bank of Costa Rica

Interest Rate in Costa Rica averaged 5.07 percent from 2006 until 2023, reaching an all time high of 10.00 percent in August of 2008 and a record low of 0.75 percent in June of 2020. This page provides - Costa Rica Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Costa Rica Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2023.

Interest Rate in Costa Rica is expected to be 9.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.

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Costa Rica Interest Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-09-15 09:00 PM 8.5% 7.5% 9.0%
2022-10-27 12:00 AM 9% 8.5% 10.5%
2023-01-27 12:00 AM 9% 9% 9.0%
2023-03-15 12:00 AM
2023-04-20 12:00 AM
2023-06-14 12:00 AM

Related Last Previous Unit Reference
Interest Rate 9.00 9.00 percent Jan 2023
Money Supply M2 13740978.15 13416894.81 CRC Million Dec 2022
Foreign Exchange Reserves 9084.36 8185.57 USD Million Jan 2023

Costa Rica Interest Rate
In Costa Rica, interest rate decisions are taken by the Central Bank of Costa Rica. The official interest rate is the monetary policy rate. The monetary policy rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.
Actual Previous Highest Lowest Dates Unit Frequency
9.00 9.00 10.00 0.75 2006 - 2023 percent Daily