{"id":101572,"date":"2017-01-31T17:56:13","date_gmt":"2017-01-31T22:56:13","guid":{"rendered":"http:\/\/countingpips.com\/?p=101572"},"modified":"2017-01-31T17:56:13","modified_gmt":"2017-01-31T22:56:13","slug":"dominican-rep-holds-rate-inflation-to-move-to-target","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/forex\/2017\/01\/dominican-rep-holds-rate-inflation-to-move-to-target\/","title":{"rendered":"Dominican Rep. holds rate, inflation to move to target"},"content":{"rendered":"<div id=\"inves-404126918\" class=\"inves-below-title-posts inves-entity-placement\"><div id =\"posts_date_custom\"><div align=\"left\">January 31, 2017<\/div><hr style=\"border: none; border-bottom: 3px solid black;\">\r\n<\/div><\/div><p>By <a href=\"http:\/\/www.centralbanknews.info\/\"><u>CentralBankNews.info<\/u><\/a><br \/>\n&nbsp; &nbsp; The Central Bank of the Dominican Republic (BCRD) kept its monetary policy rate at 5.50 percent, saying inflation is projected to converge to the target range in the policy horizon.<br \/>&nbsp; &nbsp; BCRD has maintained its rate since raising it by 50 basis points in October last year in a <span style=\"font-family: inherit;\">preventative move <span style=\"background-color: white; orphans: 2; widows: 2;\">reflecting inflation, the expected rate hike by the U.S. Federal Reserve, the trend toward higher oil prices and uncertainty in international financial markets.<\/span><\/span><br \/><span style=\"background-color: white; orphans: 2; widows: 2;\"><span style=\"font-family: inherit;\">&nbsp; &nbsp; &nbsp;Inflation rose to 1.7 percent in December from 0.88&nbsp;percent in&nbsp;November while&nbsp;underlying&nbsp;<\/span><\/span><span style=\"font-family: inherit;\">inflation was 1.89 percent, the central bank said.<\/span><br \/><span style=\"font-family: inherit;\">&nbsp; &nbsp; BCRD targets&nbsp;inflation of 4.0 percent, plus\/minus 1 percentage point.<\/span><br \/><span style=\"font-family: inherit;\">&nbsp; &nbsp; Economic activity in the Dominican Republic expanded&nbsp;by 6.6&nbsp;percent in 2016, the highest in&nbsp;the region for the&nbsp;third year running, the central bank said, adding that credit of the total financial system to the&nbsp;private sector,&nbsp;both domestic and foreign currency, grew by 11.9 percent at the end of 2016.<\/span><br \/><span style=\"font-family: inherit;\">&nbsp; &nbsp; In addition the current account deficit narrowed to 1.5 percent of Gross Domestic Product, the smallest in the last decade, helped by tourism, remittances and national exports.<\/span><br \/><span style=\"font-family: inherit;\">&nbsp; &nbsp; Gross International Reserves ended at a historically high level of US$6.047.4 billion, the equivalent of 3.9 months of imports, helping&nbsp;stabilize the foreign&nbsp;exchange market.<\/span><br \/><span style=\"font-family: inherit;\">&nbsp; &nbsp; The Dominican peso has been slowly and steadily depreciating since 2007 and was&nbsp;trading at 46.6 to the U.S. dollar today, down from 46.18 at the start of the year.<\/span><br \/><span style=\"font-family: inherit;\"><br \/><\/span><span style=\"font-family: inherit;\">&nbsp; &nbsp; <a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><br \/><span style=\"font-family: inherit;\"><br \/><\/span><span style=\"font-family: inherit;\">&nbsp; &nbsp;&nbsp;<\/span><br \/><span style=\"font-family: inherit;\">&nbsp; &nbsp;&nbsp;<\/span><br \/><span style=\"font-family: inherit;\">&nbsp; &nbsp;&nbsp;<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By CentralBankNews.info &nbsp; &nbsp; The Central Bank of the Dominican Republic (BCRD) kept its monetary policy rate at 5.50 percent, saying inflation is projected to converge to the target range in the policy horizon.&nbsp; &nbsp; BCRD has maintained its rate since raising it by 50 basis points in October last year in a preventative move [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-101572","post","type-post","status-publish","format-standard","hentry","no-post-thumbnail"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/101572","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/comments?post=101572"}],"version-history":[{"count":1,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/101572\/revisions"}],"predecessor-version":[{"id":101573,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/posts\/101572\/revisions\/101573"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/media?parent=101572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/categories?post=101572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/forex\/wp-json\/wp\/v2\/tags?post=101572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}