Interest Rate in Dominican Republic
Dominican Republic - Interest Rate
Central Bank keeps rates steady in January
At its end-January meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the fifth month running, following easing last year in the form of liquidity injections and 150 basis points of rate cuts.
The decision not to cut further was likely influenced by improving domestic and external dynamics lessening the need for further stimulus: Domestically, the contraction in economic activity moderated in December, while externally, many economies performed better than expected towards the end of last year, and the vaccine rollout is supporting optimism over global growth ahead.
In its communiqué, the BCRD maintained its neutral position and did not provide explicit guidance on the future direction of interest rates. It reiterated that it would continue to monitor the impact of the coronavirus pandemic on economic stability, and that it was focused on maintaining low inflation and a stable currency. The Consensus is for rates to be slightly above their current level by end-2021, as the economic recovery allows the Bank to withdraw some stimulus.
Our panelists see the policy rate ending 2021 at 3.25% and 2022 at 4.00%.
Dominican Republic - Interest Rate Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Policy Interest Rate (%) | 5.00 | 5.50 | 5.25 | 5.50 | 4.50 |
Dominican Republic Interest Rate Chart
Source: Dominican Republic Central Bank.
Dominican Republic Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 52.96 | 0.80 % | Jan 01 |
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Economic News
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Dominican Republic: Inflation hits highest level in nine years in January
February 15, 2021
Consumer prices rose 0.97% in January over the previous month, accelerating from December's 0.48% increase.
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Dominican Republic: Decline in economic activity softens in December
February 2, 2021
Economic activity slid 1.0% year-on-year in December (November: -3.4% yoy).
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Dominican Republic: Central Bank keeps rates steady in January
January 31, 2021
At its end-January meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the fifth month running, following easing last year in the form of liquidity injections and 150 basis points of rate cuts. The decision not to cut further was likely influenced by improving domestic and external dynamics lessening the need for further stimulus: Domestically, the contraction in economic activity moderated in December, while externally, many economies performed better than expected towards the end of last year, and the vaccine rollout is supporting optimism over global growth ahead.
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Dominican Republic: Inflation hits highest level since July 2013 in December
January 14, 2021
Consumer prices rose 0.48% over the previous month in December, which was below the 0.60% rise recorded in November.
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Dominican Republic: Central Bank keeps rates steady in December
December 30, 2020
At its end-December meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the fourth month running, following sizable easing earlier in the year. The decision not to cut further was likely influenced by improving domestic dynamics, with the decline in economic activity continuing to moderate through November.
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