Dominican Republic ends 2021 with 100bp hike
Central bank returns rate to pre-pandemic level as economy and inflation steadily grow
The Central Bank of the Dominican Republic (BCRD) raised its policy rate by 100 basis points to 4.5% on December 30. The decision was the second consecutive hike, following a 50bp rise in November.
Authorities portrayed the increase as a response both to high inflation and the sustained recovery of the Dominican economy. Year-on-year consumer price inflation reached 8.2% in November 2021 and core inflation was 6.6%, according to the BCRD’s statement. Both figures were above their October totals
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