The basic passive rate (TBP) started the year with a decrease of five basis points, to 5.90%, in its first revision of the year. At this level, the indicator is 155 points above the figure for the same date in 2017.
This week’s decrease is due to a fall in the mutual and cooperative collection rates, which together represent 27% of the indicator’s calculation.
During 2017, the TBP marked strong increases, especially between the end of May and the middle of July. These increases, in turn, occurred after repeated increases in the Monetary Policy Rate, by the Central Bank.
The basic rate is used as a reference to determine the loan installments in long-term colones, as well as the calculation of the interest of some investments. This indicator takes into account the collection rates of banks (public and private), cooperatives, and mutual savings and loans for all terms.