Costa Rica Central Bank Holds TPM at 3.0%, Defying Staff Recommendation to Cut

The Central Bank of Costa Rica (BCCR) kept its monetary policy rate (TPM) at 3.0%, overriding a technical recommendation from its own administration and economic division to reduce it amid economic pressures. The decision signals a more cautious stance than staff preferred, likely reflecting inflation or external concerns. This divergence between the board and technical staff introduces uncertainty about the near-term policy path and may affect market expectations for future cuts.