Dominican Republic Interest Rate – December-30-2023

Reuters – In December 2023, the Central Bank of the Dominican Republic made a pivotal decision. It held the benchmark interest rate steady at 7%. This move reflects significant shifts in the nation’s economic landscape.

Notably, annual inflation witnessed a remarkable decline. A steep fall from 9.64% in April 2022 to 4% in November 2023 marks a success story. This drop aligns perfectly with the target range of 4.0% ± 1.0%. Such an outcome stems from effective monetary and fiscal strategies coupled with easing domestic demand pressures.

Moreover, the downward trajectory of core inflation is equally impressive. From 7.29% in May 2022, it dipped to 4.48% in November 2023. These figures echo the positive impact of the Central Bank’s policies.

Looking forward, projections are optimistic. Inflation is expected to hover within the desired range through 2023 and into 2024. The Central Bank remains vigilant, ready to implement necessary adjustments. Its goal? To sustain macroeconomic stability and keep inflation in check.

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