In a move aimed at stimulating the economy and making homeownership more accessible, the Dominican Republic’s Central Bank (BCRD) has announced a series of monetary policy adjustments after its late November 2024 meeting.
During the November 2024 meeting, the BCRD’s Monetary Board decided to:• Reduce the policy interest rate by 25 basis points to 6.00% per annum. This is the latest in a series of rate cuts aimed at easing borrowing costs and boosting economic activity.• Release RD$35.335 billion in reserve requirements to be channeled into loans for home purchases, particularly for low-income families. This measure is expected to spur the housing market and create jobs in the construction sector.• Lower the interest rates on various liquidity facilities to further stimulate lending and economic growth.•These decisions come in response to favorable...
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