Central Bank raises benchmark rate from 5.50% to 5.75%

Santo Domingo.- The Central Bank on Monday announced an increase of its benchmark rate by 25 base points, from 5.50% to 5.75% for transactions including credit lines and deposits.

The decision, taken during the March monetary policy meeting, was the result of a comprehensive risk balance analysis around inflation projections including key macroeconomic indicators, market expectations and the relevant international environment for the Dominican economy.”

The Central Bank said on its website that the short-term rate for remunerated deposits increases from 4.00% to 4.25% per annum and the repurchase agreement (repo) rate from 7.00% to 7.25% per annum.