Dominican Republic ends 2021 with 100bp hike

Banco Central de la República Dominicana
Banco Central de la República Dominicana

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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