*The Dominican Republic’s central bank (BCRD) has lowered its benchmark interest rate by 25 basis points, to 6.75% from 7.00%. This is the first cut in interest rates since the end of November 2023. According to a BCRD statement, the decision owes to the “recent evolution of the global scenario, particularly the expectations regarding more flexibility regarding international financial conditions”. It also highlights the strong development of the Dominican economy, with 4.8% year-on-year growth in July and GDP growth of 5% expected for 2024. Meanwhile inflation, which was running at 3.90% in July in annual terms, has remained within its target range of 4.0% +/-1.0.
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LatinNews Daily - 30 August 2024
In brief: Dominican Republic reduces interest rates
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