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Events
Databanks
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Argentina databank Jul 11
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Brazil Economics databank Jun 16
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Central America databank Jun 27
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Chile databank May 27
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China databank Mar 21
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Panama databank May 13
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Peru databank Jun 27
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Philippines databank Jul 8
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Poland databank Apr 29
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Russia Economics databank Jul 11
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South Africa databank Jul 11
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Turkey databank Apr 24
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Ukraine databank May 12
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Venezuela databank Jul 7
NEWS FLASH
UPCOMING WEBINAR - CAUCASUS AND CENTRAL ASIA: POLITICAL PASSIONS IN THE...
COUNTRY INSIGHTS
Central Bank announced a pause in the monetary policy rate reduction path
DOMINICAN REPUBLIC · In Brief · 01 Aug 2023 · 1 response
Yesterday, the Central Bank decided to maintain the monetary policy interest rate (TPM) at 7.75% per year. Both the permanent liquidity expansion facility rate (8.25% annually) and the interest-bearing deposit rate (6.75% annually) remain unchanged. The uncertainty in the international environmen...
Inflation falls into target range, but pressure to boost growth is rising
DOMINICAN REPUBLIC · Report · 19 Jul 2023 · 1 response
The positive news is that, after 32 months above the 4 ± 1% y/y target range, inflation fell into range in May, and in June stood at the 4% y/y midpoint. But the negative news is the weak January-May economic growth, of just 1.4% y/y. These two reports together led to monetary policy easing. J...
A further reduction in the monetary policy rate.
DOMINICAN REPUBLIC · In Brief · 29 Jun 2023
Today, the Central Bank of the Dominican Republic (BCRD) reduced its monetary policy interest rate by 25 basis points, from 8.00% to 7.75% per year. The rate of the permanent liquidity expansion facility (1-day Repos) was also reduced by the same magnitude, going from 8.50% to 8.25% per year, as ...
Central Bank cuts rates as inflation falls into target range, and growth slows
DOMINICAN REPUBLIC · Report · 12 Jun 2023
May offered many surprises. Monthly inflation was negative (-0.2%), which allowed interannual inflation, at 4.43%, to fall into the target range of 4 ± 1% per year. But the cost has been high: economic activity growth was just 1.2% y/y in January-April. The Central Bank's response was immediat...
Government deposits in Congress a Fiscal Responsibility Bill
DOMINICAN REPUBLIC · In Brief · 02 Jun 2023 · 2 responses
Yesterday, the Ministry of Finance, on behalf of the Executive Power, deposited in the National Congress a Fiscal Responsibility Bill. The bill seeks to guarantee the sustainability of public finances. The fiscal rule states that annual primary spending growth rate must not exceed the expected in...
The Monetary Board adopts measures to expand liquidity
DOMINICAN REPUBLIC · In Brief · 01 Jun 2023 · 1 response
The measures adopted today by the Monetary Board provide additional liquidity for DOP 94 b (USD1.7 b). The measures are aimed at providing financing to the productive sectors and households under favorable conditions. Specifically, the measures are: 1. The release of resources from the legal rese...
DR Central Bank reduces the monetary policy rate
DOMINICAN REPUBLIC · In Brief · 31 May 2023
Today the Central Bank of the Dominican Republic (BCRD) decided to reduce the monetary policy interest rate by 50 basis points, from 8.50% to 8.00% per year. This means that the rate of the permanent liquidity expansion facility (1-day Repos) decreases to 8.50% per year and the rate of interest-...
The Central Bank announces the possibility of adopting measures to revitalize the economy in the near future
DOMINICAN REPUBLIC · In Brief · 25 May 2023
In a conference at the Association of Industries of the Northern Region, the Governor of the Central Bank indicated that it is highly probable that inflation will enter the target range of 4% ± 1% at the end of this same month of May, before what was planned. According to Héctor Valdez Albizu, "t...
Inflation converging to target range, but growth is sluggish
DOMINICAN REPUBLIC · Report · 16 May 2023
The Dominican economy grew by a cumulative 1.4% in Q1 2023, the third lowest rate for a Q1 during 2005-2023. Meanwhile, y/y inflation was 5.15% in April, the lowest y/y rate recorded since December 2020, which shortens the distance to the annual inflation target range of 4±1%. The restrictive ...
Political arrangements for the 2024 elections being defined, amid economic uncertainty
DOMINICAN REPUBLIC · Report · 18 Apr 2023
Although economic activity growth in February 2023 (at 1.8% y/y) was higher than in January 2023 (at 0.4% y/y), the economy has undoubtedly entered a path of lower growth, which may intensify if international economic conditions deteriorate. Even the authorities have recognized the possibility of...
Inflation subsides, but drives economic activity lower
DOMINICAN REPUBLIC · Report · 14 Mar 2023
Monthly inflation in February stood at 0.11%, its lowest level since May 2020, when the price collapse of the first four months of the COVID-19 pandemic ended. However, lunch has not been free, since the fall in inflation has been accompanied by a sharp slowdown in economic activity, which in Jan...
Monetary policy rate unchanged in March 2023
DOMINICAN REPUBLIC · In Brief · 01 Mar 2023 · 1 response
The Central Bank decided yesterday to maintain the monetary policy rate at 8.5% per year, the same level in force since Nov 2021. The permanent liquidity expansion facility rate (1-day Repos) is also kept unchanged at 9% per year and the rate of remunerated deposits (overnight) at 8% per year. Th...
Monthly headline inflation falls, while core inflation rises
DOMINICAN REPUBLIC · Report · 15 Feb 2023
Inflation in December 2022 led the Central Bank to leave its policy rate unchanged at 8.5% on January 30th, 2023, arguing that the inflationary dynamics had responded to both the monetary restriction program and the subsidies implemented by the government. Although it emphasized sticking to the r...
Dominican Government issues new securities in local and foreign currency and concludes repurchase of bonds in DOP maturing in 2023.
DOMINICAN REPUBLIC · In Brief · 01 Feb 2023
The Dominican Government reported that it issued USD$1.8 b in local and foreign currency, with the purpose of repurchasing the international bond indexed in DOP maturing in 2023 and partially financing the 2023 Public Budget. The issuance in foreign currency amounts to USD700 m, with a coupon of ...
DR Ministry of Finance announces repurchase of DOP bonds that mature in 2023
DOMINICAN REPUBLIC · In Brief · 25 Jan 2023
Yesterday, the Ministry of Finance announced the decision to repurchase DOP bonds that mature in 2023. Payment will be made in cash. The amount of the main bond to be acquired is DOP40 b and has a coupon of 8.9% According to the announcement, disclosed through Global Bondholder Services Corporati...