The Central Bank of Dominican Republic held its benchmark interest rate at 5.5 percent at its April 2019 meeting. Policymakers said that the decision is based on the balance of risks regarding the inflation outlook. The annual inflation rate rose to 1.47 percent in March from 1.19 percent in February, driven by higher cost of transport and food and non-alcoholic beverages and it is expected to rise towards its midpoint target of 4 percent (±1 percent) over the next two years. The Committee noted that the country's economic growth remains solid, boosted by domestic demand and favourable monetary conditions. Policymakers added that they will continue to monitor the evolution of international financial conditions, oil prices and potential climatic phenomenons on the domestic economy that can generate inflationary deviations. Interest Rate in Dominican Republic averaged 7.37 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 5.50 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 5.25 in 12 months time. In the long-term, the Dominican Republic Interest Rate is projected to trend around 5.25 percent in 2020, according to our econometric models.

Dominican Republic Interest Rate
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-01 08:00 PM Interest Rate Decision 5.5% 5.5% 5.5%
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%
2019-05-30 05:00 PM Interest Rate Decision 5.5% 5.5%
2019-06-28 05:00 PM Interest Rate Decision 5.5%
2019-07-30 05:00 PM Interest Rate Decision 5.5%

Dominican Republic Money Last Previous Highest Lowest Unit
Interest Rate 5.50 5.50 50.00 1.00 percent [+]
Deposit Interest Rate 7.60 7.20 21.12 4.86 percent [+]
Money Supply M0 117083.70 98498.60 117083.70 7390.30 USD Million [+]
Money Supply M1 362717.40 334241.50 362717.40 18120.40 USD Million [+]
Money Supply M2 1067323.80 1023627.00 1067323.80 43544.50 USD Million [+]
Money Supply M3 1401115.10 1355488.20 1401115.10 45304.40 USD Million [+]
Foreign Exchange Reserves 7134.10 7049.20 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 May of 2019.

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

Country Last Previous
Argentina 71.48 May/19
Turkey 24.00 Apr/19
Mexico 8.25 May/19
Russia 7.75 Apr/19
South Africa 6.75 Apr/19
Brazil 6.50 May/19
India 6.00 Apr/19
Indonesia 6.00 May/19
China 4.35 Apr/19
Saudi Arabia 3.00 Apr/19
United States 2.50 May/19
Singapore 2.24 Mar/19
Canada 1.75 Apr/19
South Korea 1.75 Apr/19
Australia 1.50 May/19
United Kingdom 0.75 May/19
Euro Area 0.00 Apr/19
France 0.00 Apr/19
Germany 0.00 Apr/19
Italy 0.00 Apr/19
Netherlands 0.00 Apr/19
Spain 0.00 Apr/19
Japan -0.10 Apr/19
Switzerland -0.75 Apr/19