On Wednesday, the Central Bank reported that the Basic Passive Rate (TBP) reached 5.8%, a new low level in 2019 and a range that had not been seen since December last year.
The TBP is an average of the rates that financial institutions use to capture resources and pay for user savings.
This downward movement means that those who have debts in colones will see their loan installments diminished as long as they are indexed to the TBP, however, the effect would not be immediate.
Each financial institution periodically reviews the reference rates and makes the adjustment. This will impact the reduction of the Basic Rate on your credit
On the other hand, the Effective Rate in Dollars, also decreased and now stands at 2.43%