Costa Rica cuts rates for a second time in a row

Inflation still above target but has fallen steadily since September, board says

Central Bank of Costa Rica
The Central Bank of Costa Rica
Haakon S Krohn/Wikimedia Commons (

Costa Rica’s central bank continued unwinding its cycle of policy rate rises, ordering a 100 basis point cut to 7.5% on April 20.

This cut is the second in as many months, following a 50bp decrease in March. Between December 2021 and October 2022, the Central Bank of Costa Rica (BCCR) raised the policy rate from 0.75% to a peak of 9%.

The BCCR’s rate-setting board said there was space for “a less restrictive monetary policy posture”, although inflation remains above target. It cited a steady

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account