Central Bank raises overnight rate from 5.00 to 5.50%
Santo Domingo.- The Central Bank (BC) raised its overnight rate from 5.00 to 5.50% annually , a decision it affirms aims to a deal with “possible deviation in inflation targets that could be produced by the upward trend on oil prices.”
It said the measure on the benchmark rate, adopted at its last monetary policy meeting, takes effect today Monday.
The Central Bank said as a result of formula to manage short-term liquidity, the overnight rate climbed from 3.50% to 4.00% per annum and the expansion facilities rate (repos), rises from 6.50% to 7.00% annually.
Oct 31, 2016
Category: DR News |