A new increase in the monetary policy rate

DOMINICAN REPUBLIC - In Brief 01 Jul 2022 by Magdalena Lizardo
Yesterday, the Central Bank decided an increase of 75 basic points in the monetary policy rate. The rate of the permanent facility for liquidity expansion (1-day Repos) increases from 7.00% to 7.75% per year and the interest-bearing deposit rate (Overnight) from 6.00% to 6.75% per year. This is the sixth increase in the monetary policy rate since November 2021. The Central Bank says that the increases seek “to avoid risks of overheating of the economy that deepen the inflationary pressures of exogenous origin and of internal demand, as well as a deterioration of the differential with respect to external interest rates that could cause volatility in the flow of capitals”.

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