LatinNews Daily - 04 September 2023

In brief: Dominican Republic cuts benchmark interest rate

* The Dominican Republic’s central bank (BCRD) has reduced the benchmark interest rate by 25 basis points, from 7.75% to 7.50%. In a statement, the BCRD said that this was due to a “significant” reduction in inflation which is now within the 4.0% (+/-1.0) target range as a result of monetary and fiscal policies which have been implemented. It notes that year-on-year inflation had dropped from a peak of 9.64% in April 2022 to 3.95% in July 2023.

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