Economy April 1, 2022 | 7:52 am

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Dominican Republic Central Bank lending rate now 5.50%

Santo Domingo.- The Central Bank of the Dominican Republic (BCRD) on Thursday said it decided to increase its lending rate 50 basis points, from 5.00% to 5.50% per year.

With this decision, which was made at its monetary policy meeting this March, the BCRD has increased its monetary policy rate by 250 basis points from November 2021, in line with the cycle of increases in interest rates to international level, the entity said.

While the rate of the permanent facility for liquidity expansion (Reposes one day) increased from 5.50% to 6.00% per year and the interest-bearing overnight deposit rate) from 4.50% to 5.00%.

“This decision is based on an exhaustive evaluation of the behavior of the world economy, the greater persistence of inflationary pressures and the increase in international uncertainty derived from recent geopolitical conflicts.”

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