Latest bank decision: At its meeting on 10 June, the Bank of Canada held the target for the overnight rate...
Policy Interest Rate in Costa Rica
The Policy Interest Rate (%, eop) ended 2024 at 4.00%, down from the 6.00% end-2024 value and down from the reading of 5.25% a decade earlier. For reference, the average interest rate in Central America and Caribbean was 4.95% at end-2024. For more information on interest rate, visit our dedicated page.
Costa Rica Interest Rate Chart
Note: This chart displays Policy Interest Rate (%) for Costa Rica from 2014 to 2025.
Source: Macrobond.
Costa Rica Interest Rate Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Policy Interest Rate (%, eop) | 1.25 | 9.00 | 6.00 | 4.00 | 3.25 |
| Basic Rate (%, eop) | 2.90 | 6.35 | 5.36 | 4.13 | - |
Central Bank of Costa Rica maintains rates in May
The BCCR extends pause into a third meeting: At its meeting on 21 May, the Central Bank of Costa Rica (BCCR) held the policy rate at 3.25%—an over four-year low—for a third straight meeting, following December’s 25 basis point cut.
The BCCR remains cautious amid looming inflationary pressures from the Iran war: The BCCR refrained from a cut as inflation is expected to return to the Bank’s 2.0–4.0% target range by the end of the year, underpinned by the impact of the El Niño weather phenomenon plus higher global prices for fuels, fertilizers and some foods amid the Middle East conflict.
Rates to remain broadly unchanged through year-end: The Central Bank did not provide specific forward guidance on its future decisions. Our Consensus is for the policy rate to end 2026 close to its current rate. At an individual level panelists are split, with some forecasting the Bank on hold, others seeing hikes and a few projecting cuts. The BCCR reconvenes on 23 July.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Costa Rican interest rate projections for the next ten years from a panel of 12 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Costa Rican interest rate.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Costa Rican interest rate projections.
Want to get access to the full dataset of Costa Rican interest rate forecasts? Send an email to info@focus-economics.com.
Latest Global Monetary Policy News
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Canada: Bank of Canada holds rates in June -
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India: RBI holds again in June but highlights El Niño and Iran war risks RBI stands pat for third successive meeting: On 3–5 June, the monetary policy committee of the Reserve Bank of India... -
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South Africa: May sees SARB hike rates for first time in three years South African Reserve Bank raises rates in split decision: On 28 May, the monetary policy committee of the South African... -
Korea: Bank of Korea stands pat in May, as expected Central Bank leaves rates unchanged for a year: At its meeting on 28 May, the Bank of Korea (BOK) decided...