Friday, April 29, 2016

Dominican Rep. maintains rate, inflation to rise to target

    The Central Bank of the Dominican Republic (CBDR) left its monetary policy rate unchanged at 5.0 percent, saying this took into account that inflation is expected to converge to the lower level of its target range within the policy horizon and market expectations are around that forecast.
    The CBRD, which has maintained its rate since last cutting it in July 2015, added that domestic economic activity was evolving positively and Gross Domestic Product was estimated to have expanded by an annual rate of 6.1 percent in the first quarter, the same as in the fourth quarter of last year.
   Inflation eased to 1.59 percent in March, down from 1.74 percent in February, while core inflation was 1.52 percent, the central bank said.
    The bank targets inflation of 4.0 percent, plus/minus 1 percentage point.



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