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Costa Rica lowers key interest rate on cuts in oil prices

Tuesday, February 3, 2015

Costa Rica's central bank said it had lowered its main interest rate 50 basis points to 4.75 percent to take advantage of a steep decline in oil prices to help meet its 2015 economic growth target of 3.4 percent.

Costa Rica is an energy importer, so low oil prices allow the central bank to try and raise growth with less risk of stoking inflation, which was 5.1 percent in 2014.

Source: Reuters