The Central Bank ends 2024 with a new reduction in the monetary policy rate

DOMINICAN REPUBLIC - In Brief 30 Dec 2024 by Magdalena Lizardo
At its last monetary policy meeting in 2024, the Central Bank decided to reduce its monetary policy interest rate (TPM) by 25 basis points, lowering it from 6.00% to 5.75% per year. Similarly, the rate for the permanent liquidity expansion facility (1-day Repos) was reduced from 6.50% to 6.25% per year, while the remunerated deposit rate (Overnight) remained unchanged at 4.50% per year. According to the Central Bank, the measure is supported by the recent evolution of the international environment, particularly the recent reductions in interest rates in advanced economies and a decrease in global uncertainty. The strong performance of the Dominican economy and available monetary policy space were also considered, taking into account that the inflation rate has remained within the lower range of the target range of 4.0% ± 1.0% throughout this year, along with the recent moderation in private credit.

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