Costa Rica Cuts Policy Rate to Record Low on Coronavirus Fears

• Costa Rica cut its policy rate by a full percentage point to a record low of 1.25% to soften the economic damage caused by the coronavirus pandemic.
• Monday’s reduction builds on a series of recent rate cuts designed to stimulate the economy, which has been performing below potential.
• Costa Rica’s President Carlos Alvarado said Monday the country will not allow non-nationals who aren’t residents to enter the country starting Wednesday at 11:59 p.m. through April 12.

(Source: Bloomberg)