Dominican Republic

Dominican Republic Interest Rate

Dominican Republic Interest Rate

Key Policy Rate in Dominican Republic

The Key Policy Rate ended 2022 at 8.50%, up from the 3.50% end-2021 value and up from the reading of 6.25% a decade earlier. For reference, the average Key Policy Rate in Central America and Caribbean was 6.40% at the end of 2022. For more interest rate information, visit our dedicated page.

Dominican Republic Interest Rate Chart

Note: This chart displays Policy Interest Rate (%) for Dominican Republic from 2014 to 2023.
Source: Central Bank of Dominican Republic.

Dominican Republic Interest Rate Data

2018 2019 2020 2021 2022
Key Policy Rate (%, eop) 5.50 4.50 3.00 3.50 8.50

Central Bank extends pause in January

On 31 January, the Central Bank of the Dominican Republic (BCRD) kept the policy rate at 7.00% for the second consecutive meeting. The decision extended the pause on the BCRD’s monetary policy loosening cycle.

January’s hold was driven by expectations that global interest rates would remain elevated for longer than previously anticipated. The BCRD also took into account rising commodity prices and transport costs on the back of extreme weather events fueled by climate change and geopolitical conflict. Nevertheless, the Bank acknowledged that the domestic economy was recovering and that inflation would remain within the 3.0–5.0% target range in 2024.

The BCRD did not provide concrete forward guidance in its January communiqué. That said, the Bank reiterated that it stood ready to take any necessary action to preserve macroeconomic stability and keep inflation within target. Our panelists expect between 50–225 basis points of additional rate cuts by end-2024. The BCRD is expected to convene again at the end of February.

Analysts at the EIU commented on the outlook: “We expect the BCRD to pause its easing cycle in March, but we have pencilled in another round of cuts in the third quarter of 2024 […]. This trajectory reflects our assumption that the BCRD will want to maintain an interest-rate differential with the US; the start of monetary easing in the U.S. in the second quarter of 2024 will support further rate cuts by the BCRD.”

Consensus Forecasts and Projections for the next ten years

How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Dominican interest rate projections for the next ten years from a panel of 9 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable interest rate forecast available for Dominican interest rate.

Download one of our sample reports to visualize what a Consensus Forecast is and see our Dominican interest rate projections.

Want to get access to the full dataset of Dominican interest rate forecasts? Send an email to

Latest Global Monetary Policy News

Free sample report

Interested in economic reports, analysis and data? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest