Costa Rica cuts rates for a second time in a row
Inflation still above target but has fallen steadily since September, board says
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
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