Costa Rica cuts rates to lowest level in over 10 years
Covid-19 has accelerated a disinflationary trend, central bank says
The Central Bank of Costa Rica cut its policy rate to its lowest level in over a decade, it announced on June 17.
The central bank’s board of directors lowered the monetary policy rate by 50 basis points to 0.75%, as Costa Rica’s economy contracted sharply. GDP contracted by 5.7% in April on a year-on-year basis.
The coronavirus pandemic has strengthened the disinflationary forces already being faced in country, the central bank says in a statement. Inflation has been trending lower since the
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