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Central Bank freezes interest rate at 5.5%

During a meeting on monetary policy, the Central Bank of the Dominican Republic officials decided to maintain the basic interest rate at 5.5%. The decision regarding the basic interest rate was adopted after an analysis regarding the possibilities of inflationary risks as well as the state of the economy, using its principal indicators, the market expectations and the international economic environment.

During the month of January, the monthly inflation rate was 0.62% and the year-to-year inflation was 2.33%.

According to Central Bank projections, inflation during the first six months of the year is estimated at 4%.

According to a notice from the Central Bank, the world economy will grow by 2.8% in 2017 and possibly by 2.9% in 2018, while some emerging economies will experience more robust growth rates.

The note says that the Dominican economy grew by 6.6% in real terms in 2016, while a 5.5% growth is projected for 2017. This is above the average for Latin America.

Source: DR1

Mar 2, 2017

Category: DR News |

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Last updated August 18, 2017 at 11:26 PM
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