Central Bank cuts 50 points in Overnight Rate
Santo Domingo.- Dominican Republic’s Central Bank on Thursday cut 50 base points in the Libor (London Interbank Overnight Rate) from 5.50% to 5% annually, a measure adopted yesterday in its monthly monetary policy meeting.
In a statement the Central Bank reports that inflation forecasts are still below the target, both for this year as well as 2013.
It said the inter-annual inflation rate fell to 1.64% in July with annual inflation at 3.16%, for which “the forecast models don’t foresee significant inflationary pressures on the monetary policy horizon for two years.”
Source: Dominican Today
Category: DR News |