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Santo Domingo.- Herrera Industries Association (AEIH) president Wadi Cano Acra on Sunday hailed the Central Bank’s decision to cut interest rates once again and asked the private financial system to follow the monetary authorities’ credit lead to re-energize the economy.

The business leader said since May the Overnight and Lombard rates -a benchmark for money market prices -  have declidned 200 base points, for which he expect to see this reflected in the interests from financial intermediaries.

Cano said the measure is of great importance and can spur a "rebound in the country’s productive sectors."

"This measure has to be well understood by the banks and the country’s other financial institutions; a rebound of the productive sectors is vital at this time."

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COMMENTS
6 comment(s)
Written by: dreadlocks, 3 Sep 2012 10:24 AM
From: United States
it will spur new investments, if local business gets priority, and too many foreign ventures do not borrow on the DR financial market, crowding out local investors. it is also going to initiate a flight of short term investments looking for quick returns. may be that is a good thing, anyway.
Written by: dreamkiller, 3 Sep 2012 12:32 PM
From: Falkland Islands (Islas Malvinas), The Dentist will see you now
Dread reporting from his Magic 8 Ball
Written by: dreadlocks, 3 Sep 2012 3:01 PM
From: United States
some things never change. at least i can see that you are on board with the idea of recycling
Written by: chillinout, 3 Sep 2012 3:51 PM
From: Dominican Republic
I'm glad to know the rate went down but why can't the reporter also put the actual rate in the story?

Too many of these stories are nothing but a long extended headline. There are too few details in most of the stories to become really informed.
Written by: JHCL2016, 4 Sep 2012 2:52 PM
From: United States, EN PUNTA CANA: Jose H Con Leonel 2016!
It inspired me to invest some more in our bella Quisqueya!

facebook.com/media/set/?set=a.459601124073857.113926.100000719190603&type=3

Stop by, "special" rates for you all...

Stop whining, coge pa'lante y manos a la obra!

8-)

* Gracias Dios, tenemos a Leonel, a Danilo, y a Margarita *
Written by: dreadlocks, 4 Sep 2012 4:56 PM
From: United States
how many more gallos do you plan to buy?
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