The DR Central Bank reduces its monetary policy rate by 25 basis points

DOMINICAN REPUBLIC - In Brief 29 Aug 2024 by Magdalena Lizardo
Today, the Central Bank of the Dominican Republic (BCRD) decided to reduce its monetary policy interest rate (MPR) by 25 basis points, decreasing from 7.00% to 6.75% annually. Likewise, the rate of the permanent liquidity expansion facility (1-day Repos) goes from 7.50% to 7.25% annually, while the rate of remunerated deposits (Overnight) is reduced from 5.50% to 5.25% annually. The Central Bank supported its decision on the expectations of greater flexibility in international financial conditions and on the good performance shown by the Dominican economy, which shows an average growth of 5% y-y in Jan-Jul 2024 and a year-on-year inflation of 3.54 in Jul. 2024.

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