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Dominican Bank Chief Boosts Nation’s GDP Forecast to 6%

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Dominican Republic central bank Governor Hector Valdez Albizu is raising his economic forecast for what was Latin America’s fastest-growing economy last year.

The Caribbean nation’s $61 billion economy will expand about 6 percent this year, up from a previous forecast of 5 percent to 5.5 percent, Valdez said. That growth is being partly fueled by a one percentage-point reduction in the country’s benchmark interest rate this year as inflation slowed below the bank’s target range.