Dominican Republic orders 75bp rate rise
Core inflation still rising as central bank orders sixth rate hike in eight meetings
The Central Bank of the Dominican Republic added 75 basis points to its monetary policy rate of June 30, continuing a cycle of increases that began last November. The policy rate is now 7.25%, up 425bp from its pandemic level of 3%.
The central bank’s nine-member monetary council has increased rates at six of its last eight monthly monetary policy meetings.
In its press release, the central bank board said that year-on-year headline inflation had “moderated slightly” to 9.47% in May. The April
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