The Central Bank maintains the monetary policy interest rate unchanged in May 2024

DOMINICAN REPUBLIC - In Brief 01 May 2024 by Magdalena Lizardo
For the sixth consecutive month since Dec 2023, the monetary policy interest rate will remain unchanged. In May 2024, the monetary policy interest rate will remain at 7.0% annually. Also, the permanent liquidity expansion facility rate (1-day Repos) and the interest-bearing deposit rate will remain unchanged at their levels of 7.5% and 5.5%, respectively. The Central Bank justified its decision on "the expectations that interest rates in the United States of America would remain high for a longer time than expected, as well as the increase in raw material prices." The Central Bank also took into account the gradual recovery of the Dominican economy and the dynamism of private credit, as well as the fact that inflation is within the target range of 4.0% ± 1.0%.

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