17 March 2020 – Central Bank of Costa Rica reduces Monetary Policy Rate (TPM) to place it at 1.25% per year

Type of Intervention: Financial and Economic
Sectors Involved: Central Bank, Finance/Economy
Level of Jurisdiction: National
Lead People/Agency: Central Bank of Costa Rica

Overview: The Board of Directors of the Central Bank reduced the Monetary Policy Rate (TPM) to place it at 1.25% per year, among other actions. The decision was based on the analysis of the expected trajectory for inflation and its determinants, the risks in that forecast, and the lag with which the monetary policy measures take effect.
Full details here: https://www.presidencia.go.cr/comunicados/2020/03/bccr-y-conassif-acuerdan-medidas-de-politica-monetaria-y-financiera-para-mitigar-impacto-economico-del-covid-19/

Type of Justification: Advice of EXTERNAL expert advisor or advisory committee
Source of Evidence or Justification: National – government
Evidence/Justification: The Board of Directors of the Central Bank took this decision in order to mitigate the economic impact in the country of the covid-19.