The new monetary policy measure of the Central Bank of the Dominican Republic, which raises its interest rate 100 basis points in order to counteract inflation in the country, due to the upward trend in the prices of inputs, intermediate and finished goods on a world scale, it will be felt in the new loans assumed by the clients of the financial system.
This means that users of fixed-rate loans will not be affected in the short term, while borrowers with flexible rates should be notified gradually by the borrowing entities, not automatically, given that there are sufficient resources in the market. system.
This Thursday, the governor of the Central Bank, Héctor Valdez Albizu, reported in a virtual press conference the decision of the monetary entity to raise its annual interest rate from 3.50% to 4.50%.
Most countries are raising benchmark interest rates due to the inflationary wave that continues in the world due to various factors, including the pandemic and the cost of ocean freight and the shortage of freight containers.
As of last November, the behavior of active interest rates (for loans) averaged 8.15% in the commerce sector, 14.% for consumer and / or personal, 8.9% in mortgage and / or development loans and 6.1 % the prime rate.
On November 29, 2021, commercial clients negotiated financing with rates of 9.95%, consumer users and those who sought personal loans negotiated with interests of 14.94%, buyers of homes and buildings with mortgage and / or personal loans negotiated with rates average of 9.28% and preferential clients in 7.72%.
The passive rate is applied as the profit of the owners of the money, in installments, to the savings deposits and interbank.
Currently, the accumulated inflation rate as of November 2021 in the Dominican Republic is 7.71%.
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