Dominican Republic Cuts Interest Rate to 6%

2024-11-29 19:48 By Felipe Alarcon 1 min. read

The Central Bank of the Dominican Republic lowered its benchmark interest rate by 25 basis points to 6.00% during its November 2024 meeting, citing favorable international conditions, including global rate cuts, easing commodity prices, and stable inflation.

Annual inflation was 3.16% in October, within the 4.0% ± 1.0% target range, while core inflation remained near the midpoint at 3.96%.

The Dominican economy is projected to grow by 5% in 2024, supported by strong performance in tourism, remittances, exports, and foreign investment.

The bank emphasized measures to boost liquidity and reduce borrowing costs, aiming to sustain credit growth and internal demand, while signaling that future rate adjustments will depend on inflation trends and economic conditions.



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