Dominican Republic raises rates 50bp
Central bank promises policy “normalisation” as inflation remains above target
The Central Bank of the Dominican Republic (BCRD) has ordered a 50 basis point increase in the policy rate, joining other Latin American policy-makers in confronting high inflation. This brings the policy rate to 5%.
The decision marks the third rate increase in a row for the BCRD, following a 50bp hike in November and a 100bp jump in December.
In a statement, the central bank said the hike was “part of the plan to normalise monetary policy… with the goal of moderating price shocks and
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