The Central Bank of Costa Rica raised its policy rate by 25bps to 5.25 percent effective from November 1st 2018, in an attempt to curb inflationary pressures. Also, the gross interest rate was lifted by 19 bps to 3.23 percent per year. The bank established an inflation goal of 3 percent, with a margin of plus or minus 1 percentage point. Interest Rate in Costa Rica averaged 5.63 percent from 2006 until 2018, reaching an all time high of 10 percent in August of 2008 and a record low of 1.75 percent in January of 2016.
Interest Rate in Costa Rica is expected to be 5.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Costa Rica to stand at 5.50 in 12 months time. In the long-term, the Costa Rica Interest Rate is projected to trend around 5.50 percent in 2020, according to our econometric models.