Dominican Republic’s central bank raises interest rates
Central bank forecasts inflation will reach target by mid-2022 after “gradual” decline
The Central Bank of the Dominican Republic (BCRD) increased its benchmark rate by 50 basis points to 3.5% on November 24, its first rise since July 2018.
The monetary board also increased the BCRD’s liquidity expansion facility rate and overnight deposit rate by 50bp, to 4% and 3% respectively.
According to its latest data, year-on-year core inflation reached 6.31% in October. Year-on-year consumer price index inflation was 6.56% in October. The central bank currently targets an inflation band
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