The Central Bank of Dominican Republic lowered its benchmark interest by 50bps to 5 percent at its June 2019 meeting. It is the first rate cut so far this year, bringing borrowing cost to its lowest since 2016. Policymakers said that the decision is based on the risks balance regarding the inflation outlook including domestic and international macroeconomic developments and market expectations. The annual inflation rate fell to 1.31 percent in May from 1.61 percent in April, and it is projected that it will remain below the lower limit of the target range (4 percent ± 1 percent) until the end of 2019, converging to the midpoint of the range in 2020. The Committee noted that the economy growth moderated amid a slowdown in private investment, associated with external and internal uncertainty factors. Interest Rate in Dominican Republic averaged 7.35 percent from 2004 until 2019, reaching an all time high of 50 percent in February of 2004 and a record low of 1 percent in January of 2004.

Interest Rate in Dominican Republic is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Dominican Republic to stand at 4.75 in 12 months time. In the long-term, the Dominican Republic Interest Rate is projected to trend around 5.00 percent in 2020, according to our econometric models.

Dominican Republic Interest Rate
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Calendar GMT Actual Previous Consensus TEForecast
2019-03-01 08:00 PM Interest Rate Decision 5.5% 5.5% 5.5%
2019-04-01 06:00 PM Interest Rate Decision 5.5% 5.5% 5.5%
2019-04-30 10:00 PM Interest Rate Decision 5.5% 5.5% 5.5%
2019-06-03 10:00 PM Interest Rate Decision 5.5% 5.5% 5.5%
2019-07-30 05:00 PM Interest Rate Decision 5% 5%
2019-08-30 05:00 PM Interest Rate Decision 5%
2019-09-30 05:00 PM Interest Rate Decision 5%

Dominican Republic Money Last Previous Highest Lowest Unit
Interest Rate 5.00 5.50 50.00 1.00 percent [+]
Deposit Interest Rate 7.60 7.20 21.12 4.86 percent [+]
Money Supply M0 109153.20 107657.70 117046.30 7390.30 DOP Million [+]
Money Supply M1 365514.80 362800.00 365514.80 18120.40 DOP Million [+]
Money Supply M2 1085984.40 1084645.30 1085984.40 43544.50 DOP Million [+]
Money Supply M3 1440683.10 1436413.30 1440683.10 45304.40 DOP Million [+]
Foreign Exchange Reserves 6980.80 7276.20 8050.30 165.20 USD Million [+]

Dominican Republic Interest Rate

In the Dominican Republic, interest rate decisions are taken by the Central Bank of Dominican Republic. The official interest rate is the Overnight Interest Rate. This page provides the latest reported value for - Dominican Republic Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Dominican Republic Interest Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
5.00 5.50 50.00 1.00 2004 - 2019 percent Daily

Country Last Previous
Argentina 59.01 Jul/19
Turkey 24.00 Jun/19
Mexico 8.25 Jul/19
Russia 7.50 Jun/19
South Africa 6.75 May/19
Brazil 6.50 Jun/19
Indonesia 6.00 Jun/19
India 5.75 Jun/19
China 4.35 May/19
Saudi Arabia 3.00 May/19
United States 2.50 Jun/19
Singapore 1.88 May/19
Canada 1.75 Jul/19
South Korea 1.75 May/19
Australia 1.00 Jul/19
United Kingdom 0.75 Jun/19
Euro Area 0.00 Jun/19
France 0.00 Jun/19
Germany 0.00 Jun/19
Italy 0.00 Jun/19
Netherlands 0.00 Jun/19
Spain 0.00 Jun/19
Japan -0.10 Jun/19
Switzerland -0.75 Jun/19