Central Bank raises policy rate
Santo Domingo.- The Central Bank of the Dominican Republic (BCRD) continues to tighten its monetary policy in an effort to combat inflation.
At its monetary policy meeting in July 2022, it decided to increase the monetary policy interest rate by 50 basis points from 7.25% to 7.75% per year.
In this way, the rate of the permanent liquidity expansion facility (1-day Repos) went from 7.75% to 8.25% per year and the rate of remunerated deposits (Overnight), from 6.75% to 7.25% per year.
The BCRD said that this decision is based on an exhaustive evaluation of the recent behavior of the world economy and its impact on inflation, influenced by geopolitical conflicts and the global cost shock.