Money in Dominican Republic
Dominican Republic - Money
Central Bank leaves rates unchanged in January on encouraging growth and inflation metrics
At its January monetary policy meeting, the Central Bank (BCRD) left the policy rate unchanged at 4.50% for the fifth straight month, following 100 basis points of easing in June–August to boost economic activity.
The decision to stay put was underpinned by solid domestic activity and inflation which has returned to the Bank’s 3.0%–5.0% target range. Moreover, the BCRD expects inflation to remain close to the center of the target range this year. As such, further easing was not required.
In its communiqué, the Bank’s left its dovish guidance unchanged. The BCRD stated it would be alert to “moderating global economic activity as well as internal and external uncertainty, and the impact on demand”. In addition, the Bank mentioned the potential impact that the coronavirus could have on the world economy. As such, although the Consensus sees rates remaining steady this year, further loosening should not be ruled out in the near-term.
Our panel currently forecasts the Central Bank’s main policy rate ending 2020 at 4.50% and 2021 at 4.63%.
Dominican Republic - Money Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Money (annual variation in %) | 10.2 | 11.6 | 10.0 | 10.3 | 4.5 |
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: Inflation continues to rise in January
February 10, 2020
Consumer prices rose 0.33% in January over the prior month, up from December’s 0.20% rise.
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Dominican Republic: Central Bank leaves rates unchanged in January on encouraging growth and inflation metrics
January 31, 2020
At its January monetary policy meeting, the Central Bank (BCRD) left the policy rate unchanged at 4.50% for the fifth straight month, following 100 basis points of easing in June–August to boost economic activity.
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Dominican Republic: Economy gains further momentum in Q4 2019
January 28, 2020
The economy surged 5.8% in Q4 according to preliminary data, up from Q3’s 4.8% expansion and likely marking the strongest reading in Central America and the Caribbean.
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Dominican Republic: Inflation moves further within target range in December
January 9, 2020
Consumer prices rose 0.20% in December over the prior month, down from November’s 0.37% rise.
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Dominican Republic: Growth accelerates further in November
December 30, 2019
The economy expanded 5.5% in November according to Central bank data, up slightly from October’s 5.2% expansion, with the economy continuing to benefit from significant monetary stimulus earlier in 2019—which has fed through to faster credit growth. November’s expansion was driven by construction, financial services, and manufacturing in free trade zones, although weak tourist arrivals hurt the hotels, bars and restaurants sector, restraining the overall expansion somewhat. Turning to 2020, our panelists expect growth to ebb slightly on slower momentum in the U.S., the Dominican Republic’s key trading partner.
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