Costa Rica orders second consecutive rate hike

Central Bank of Costa Rica
Central Bank of Costa Rica
Photo: Haakon S Krohn/Wikimedia Commons

Costa Rica’s central bank board decided to raise its monetary policy rate by 50 basis points at its January 26 meeting, despite relatively moderate inflation.

The Central Bank of Costa Rica’s board of directors said “risks around the inflation forecasts lean to the upside” in its official statement.

The increase brings the monetary policy rate to 1.75%, following a 50bp rise in December, the first since 2018.

In its press release, the central bank said that inflation remained within its

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