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Costa Rica lowers key interest rate for seventh time

Thursday, February 7, 2013

As Costa Rican officials continue to apply measures to discourage short-term currency investments from abroad, the nation's basic passive rate will drop from 8.30 percent to 8.05 percent today.

This is the seventh consecutive decrease since December.

Along with the central bank, President Laura Chinchilla’s administration announced weeks ago that they would take measures to reduce domestic interest rates that are attracting capital from foreign investors taking advantage of the country’s attractive interest rates in colons.

Source: Tico Times