Economy August 31, 2022 | 9:49 am

Central Bank raises benchmark rate again, now to 8% per year

Santo Domingo.- The Central Bank of the Dominican Republic (BCRD) increased its monetary policy interest rate by 25 basis points, from 7.75% to 8.00% per year. In this way, the rate of the permanent liquidity expansion facility (1-day repos) goes to 8.50% per year and the rate of overnight deposits to 7.50% per year.

This decision is based on an exhaustive evaluation of the recent behavior of the world economy and its impact on inflation, considering geopolitical conflicts and global cost shocks.

The BCRD indicated that price dynamics continue to be affected by external factors that are more persistent than expected, associated with the extraordinary increase in the prices of oil and other raw materials, as well as the high costs of international container transport and other disruptions in supply chains.

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