The Central Bank lowers the monetary policy rate again

DOMINICAN REPUBLIC - In Brief 01 Oct 2024 by Magdalena Lizardo
The monetary policy rate in October 2024 will be 25 basis points lower than in the previous month. Yesterday, the Central Bank decided to set the monetary policy rate at 6.50% per year. Additionally, the liquidity expansion facility rate (1-day Repos) is being lowered from 7.25% to 7.00% per year, while the overnight deposit rate is reduced from 5.25% to 5.00% per year. Compared to the level in August 2024, the monetary policy rate has been reduced by 50 basis points over September-October 2024. The Central Bank stated it will continue to monitor the economic situation and does not rule out taking additional measures to preserve macroeconomic stability and keep inflation within the target range of 4 ± 1%. The real economic growth was 5.1% year-on-year for January-August 2024, and annual inflation reached 3.42% in August 2024.

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