Money in Dominican Republic
Dominican Republic - Money
Central Bank keeps rates steady in September
At its end-September meeting, the Central Bank (BCRD) decided to keep the policy rate at 3.00%.
Although inflation remains above the BCRD’s 3.0%–5.0% target range, the Bank judged that inflation would moderate going forward, albeit at a slower pace than previously predicted owing to persistent external shocks. Together with well-anchored inflation expectations and a relatively stable currency, this gave the Bank the space to keep rates stable in order to support the economic recovery. That said, the Bank said it would continue unwinding the extraordinary liquidity-boosting loans that were introduced in response to the pandemic, in order to keep a lid on inflation.
In its communiqué, the BCRD did not provide explicit direction on future interest rate movements. September’s forward guidance was identical to August’s, with the Bank mentioning that it would closely monitor the evolution of inflation and was prepared to adopt the “necessary measures” in order to meet the inflation target. With the economy continuing to steam ahead, the Consensus is for some tightening going forward.
Our panelists see the policy rate ending 2021 at 3.31% and 2022 at 3.92%.
Dominican Republic - Money Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 11.6 | 10.0 | 10.3 | 4.5 | 10.4 |
Dominican Republic Money 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: Economic activity records lowest expansion since March in August but remains strong
October 3, 2021
Economic activity expanded 11.7% in year-on-year terms in August, which followed July's 12.1% increase.
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Dominican Republic: Central Bank keeps rates steady in September
September 30, 2021
At its end-September meeting, the Central Bank (BCRD) decided to keep the policy rate at 3.00%.
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Dominican Republic: Inflation increases in August
September 9, 2021
Consumer prices rose 0.80% in August over the previous month, accelerating from the 0.54% increase logged in July.
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Dominican Republic: Economic activity growth eases in July
September 2, 2021
Economic activity rose 12.1% year-on-year in July (June: +12.7% yoy).
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Dominican Republic: Central Bank keeps rates steady in August
August 31, 2021
At its end-August meeting, the Central Bank (BCRD) decided to keep the policy rate at 3.00%.
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