Dominican Republic’s central bank cuts rates again

Banco Central de la República Dominicana

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

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