Costa Rica central bank lowered its benchmark interest rate by 100 bps to 7.5%, following a 50 bps cut in March, the first in four years. While officials recognized the uncertainty in the global economy and inflation remaining above the target ranges of central banks, they also noted the potential negative impact on credit conditions and international economic activity due to financial market tensions linked to the failures of some US banks. Moreover, the bank expects the domestic disinflationary process to continue, with 4.9% and 4% for the 12 and 24-month outlooks, respectively, in March.