policy is an area within economic policy that is exclusively entrusted to
Central Banks, whose aim is to impact on monetary and financial variables to
attain specific objectives. In the case of Costa Rica, these objectives involve
solely keeping low and steady inflation rates.
helps preserve Costa Ricans’ purchasing power through salaries and incomes,
and facilitates decision-making, thereby favoring savings and investment, and
ultimately, economic growth.
BCCR’s Board of Directors decided to migrate, in a gradual and orderly
fashion, toward a monetary policy strategy focused on inflation targeting-a
process which has not concluded yet.
name explicitly indicates, the main objective of an inflation goal regimen is
inflation, and therefore any inflation target announced -within a range or a
specific value- constitutes the nominal anchor of the monetary policy. The
main policy instrument are short term interest
rates, and the policy is implemented through discretional interventions by
the Central Bank in the money market.
public is informed of progress made with this strategy through periodic
reports posted on its website (Macroeconomic Program and Inflation Reports,