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Central Bank keeps its annual rate at 3 percent

The Central Bank of the Dominican Republic (BCRD) decided to keep its monetary policy interest rate at 3.00%/year.

Thus, the rate of the permanent liquidity expansion facility (1-day Repos) remains at 3.50%/year and the rate of remunerated deposits (Overnight) at 2.50%/year.

The decision on the reference rate is based on the exhaustive analysis of the impact of COVID-19 on economic activity and the future evolution of inflation.

In particular, the monthly variation of the consumer price index (CPI) in February was 0.68%, while the interannual inflation (October 2019-September 2020), stood at 6.30% in February 2021.

The entity stated that inflation would be temporarily above the upper limit of the goal of 4.0% ± 1.0% (3% to 5%) and will return to the target range in the middle of the year.


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