Costa Rica: Increase in policy rate

CENTRAL AMERICA - Report 07 Apr 2017 by Felix Delgado and Francisco de Paula Gutiérrez

The Board of the Central Bank increased its monetary policy rate yesterday, from 1.75% to 2.25%. It was the first change since January 2016, when the rate went down from 2.25% to 1.75%. The Board considered the movement as a preventive one, as inflation had increased in recent months (1.36% in the December-February period) and inflationary expectations have remained close to the upper bound of the 2.0% - 4.0% Central Bank target range.

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