Weekly Report - 16 May 2013 (WR-13-19)

DOMINICAN REPUBLIC | Quantitative easing. On 8 May the central bank of the Dominican Republic reduced the reserve requirement ratio for financial institutions operating in the country by 3.5 percentage points so as to release some RD$20bn (US$487m) into the local economy in a bid to boost economic activity. In a statement, the bank said the decision was taken at its last monetary policy meeting and owed to the fact that first quarter economic indicators had shown a “greater than expected slowdown”.  On the bank’s official figures, real GDP growth in the first quarter was just under 1% year-on-year.

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