*The Dominican Republic’s central bank (BCRD) has maintained its interest rate at 7.0%, taking into account “the recent evolution of the international environment”, according to a BCRD statement. The BCRD highlighted factors such as expectations that external interest rates would remain high “for a longer time than expected”, as well as the increase in prices of raw materials and transportation costs “due to geopolitical conflicts and climatic factors”. The bank also highlighted the recovery of the national economy and acceleration of private credit, and the fact that inflation is within the target range of 4% +/-1%. It added that core inflation, which excludes the prices of more volatile products such as fuels and some foods, is continuing on a downward trend, coming in at 4.09% in January. The BCRD has reduced the benchmark interest rate by 150 basis points since May 2023.
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LatinNews Daily - 04 March 2024
In brief: Dominican Republic maintains interest rates
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