Last week the Central Bank of Costa Rica (BCCR) announced a 0.5% decrease in the Monetary Policy Rate (TPM), which since last Friday has been at 4.75%.
The Monetary Policy Rate as of March 22 was at 5.25%. This reduction is important since it is a guideline rate that guides the behavior of the rest of the interest rates in the market.
"Changes in the TPM will continue to be gradual and prudent, in order to be able to respond in a timely manner and in the appropriate direction, when macroeconomic conditions and the assessment of risks require it," the Central Bank said in a press release.