Costa Rica increases pace of monetary tightening
Central bank hikes rates by 150bp as core and headline inflation continue to rise
The Central Bank of Costa Rica (BCCR) raised its benchmark rate by 150 basis points on April 27, speeding a tightening process it began in December.
It hiked the rate to 4%, the highest level since September 2019. The BCCR started tightening monetary policy with two 50bp increases, before adding 75bp in March.
By February 2022, headline inflation had reached 4.9%, above the central bank’s 2–4% target range. The next monetary policy decision is scheduled for June 15.
In a statement, the
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