The Central Bank of the Dominican Republic reduced interest rates for the second month in a row, it announced on July 31.
The Caribbean nation’s monetary policy committee reduced the main policy rate by 25 basis points to 4.75%, citing lower inflation and growth as reasons for the cut. Its decision follows the 50bp rate cut implemented in June. The central bank’s overnight rate stands at 3.25%, and the repo rate at 6.25%.
The rate cut is one of several worldwide prompted by the US Federal