The base passive rate is rising again and the upward trend will continue in the coming weeks

QCOSTARICA – Have you seen an increase in your loan repayments? Pay attention, since the Tasa Básica Pasiva (TBP) – Passive Basic Rate – rose again on Thursday and stands at 5.68%.

Since July, the Banco Central (Central Bank) has changed the calculation of the TBP, defined as “a weighted average of the gross interest rates on deposits in colones, negotiated by the country’s financial intermediaries and the interest rates on deposit instruments of the Central Bank and the Ministry of Finance”.

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In concrete terms, it is the reference indicator for nearly 700,000 loans in colones at variable rates.

As the price of money becomes more expensive, the interest that the public’s savings in financial institutions will receive will be greater, but the cost of these loans contracted at variable rates will also increase.

Juan Pablo Arias, economist at the Bolsa Nacional de Valores (BNV) – National Stock Exchange, said the rate had doubled so far this year and the upward trend would continue throughout the year and could even reach 8%.

The ACB will be at 5.68% until September 28, when the Central Bank will carry out a review.

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