Thursday, March 3, 2011

Dominican Republic Central Bank Raises Rate 100bps to 6.00%

The Central Bank of the Dominican Republic raised its Monetary Policy (Overnight) Rate by 100 basis points to 6.00% from 5.00%, and maintained the Lombard Rate at 9.50%. The Bank cited rising inflation as the driver: "In fact, the Consumer Price Index (CPI) increased by 1.25% in January 2011, while y-o-y inflation reached 6.17%. This level of annual inflation is above the Monetary Program's target range of 5-6% for 2011".


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