NewsWhore
08-31-2012, 02:10 PM
At its monthly meeting on monetary policy yesterday, Thursday 30 August, the Central Bank reduced its "overnight" rate by 50 base points from 5.5% to 5% annually and the Lombard rate from 7.5% to 7% annually.
The Overnight rate applies to nightly interbank operations for short periods and the Lombard rate is used for interest on loans by central banks to the commercial banks.
In a press release, the bank said that the inflation projections were below the set levels, and had reduced to 1.64% for July and 3.16% year to date.
The Central Bank says that as a result of the last decisions by the monetary committee, the interest rates had been decreasing which had led to the creation of conditions for a possible increase in credit for the private sector.
It added that the Dominican economy has grown by 3.8% in the first half of the year and was expected to reach 4% by the end of the year.
www.listindiario.com/economia-y-negocios/2012/8/30/245532/Banco-Central-dispone-bajar-50-puntos-a-tasas (http://www.listindiario.com/economia-y-negocios/2012/8/30/245532/Banco-Central-dispone-bajar-50-puntos-a-tasas)
More... (http://www.dr1.com/index.html#4)
The Overnight rate applies to nightly interbank operations for short periods and the Lombard rate is used for interest on loans by central banks to the commercial banks.
In a press release, the bank said that the inflation projections were below the set levels, and had reduced to 1.64% for July and 3.16% year to date.
The Central Bank says that as a result of the last decisions by the monetary committee, the interest rates had been decreasing which had led to the creation of conditions for a possible increase in credit for the private sector.
It added that the Dominican economy has grown by 3.8% in the first half of the year and was expected to reach 4% by the end of the year.
www.listindiario.com/economia-y-negocios/2012/8/30/245532/Banco-Central-dispone-bajar-50-puntos-a-tasas (http://www.listindiario.com/economia-y-negocios/2012/8/30/245532/Banco-Central-dispone-bajar-50-puntos-a-tasas)
More... (http://www.dr1.com/index.html#4)