Interest Rate in Dominican Republic
Dominican Republic - Interest Rate
Central Bank keeps rates steady in April
At its end-April meeting, the Central Bank decided to keep the policy rate at 3.00% for the eighth month running.
On one hand, improving domestic dynamics and a healthier international panorama, amid fiscal stimulus in the U.S. and the advance of Covid-19 vaccination programs, meant that further stimulus was not warranted. Moreover, with inflation currently well above the Bank’s 3.0% –5.0% target, room for further easing was likely limited in any case. On the other hand, a rate hike would have been premature given the economy has only just returned to growth and the Covid-19 pandemic continues to pose a threat to the outlook.
In its communiqué, the Bank 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 the economy, and that it was focused on meeting the inflation target. The Consensus is for the policy rate to be slightly above its current level by end-2021, as the recovering economy allows the Bank to withdraw some stimulus in order to keep inflation in check.
Our panelists see the policy rate ending 2021 at 3.08% and 2022 at 3.75%.
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: Central Bank keeps rates steady in April
April 30, 2021
At its end-April meeting, the Central Bank decided to keep the policy rate at 3.00% for the eighth month running.
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Dominican Republic: Economic activity records quickest growth since October 2013 in March
April 28, 2021
Economic activity expanded 10.6% year-on-year in March (February: +1.1% yoy).
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Dominican Republic: Inflation hits fresh multi-year high in March
April 15, 2021
Consumer prices rose 0.60% in March over the previous month, a smaller increase than the 0.68% rise seen in February.
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Dominican Republic: Central Bank keeps rates steady in March
March 31, 2021
At its end-March meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the seventh month running.
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Dominican Republic: Economic activity notches quickest growth since February 2020 in February
March 30, 2021
Economic activity expanded 1.1% compared to the same month a year earlier in February, which contrasted January's 1.8% decrease.
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