COSTA RICA: The Central Bank announced its Macroeconomic Program 2017-2018

CENTRAL AMERICA - Report 27 Dec 2016 by Francisco de Paula Gutiérrez and Felix Delgado

Just before Christmas, the Costa Rican Central Bank announced its Macroeconomic Program for 2017-2018. There are no major changes in its policy framework: The Bank´s monetary policy will continue to pursue an Inflation target of 3.0% ± 1.0 p.p., using the policy rate as its main instrument. The exchange rate policy will continue under the so-called administrative floating system, in place since the end of January 2015, by which the Bank intervene actively in the market to reduce the volatility of the forex fluctuations.

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