Currency Board authorizes inflation targets

Here
• the Monetary Board authorized the Central Bank to establish a scheme targets inflation from this year. The central goal for 2012 will be 5.5% with a range of tolerance of /-1%. The measure of inflation will be based on the interannual variation of the price index to the consumer.

• The Central Bank, according to the projections set out in the monetary program 2012, estimates that the Dominican economy will grow between 4.5 and 5 per cent this year. The Agency projected a deficit of current account for 5.4% of GDP and an accumulation of foreign exchange reserves of US$ 300 million.

• The arrival of non-resident passengers in the country during the month of December rose by 8%. In 2011, in cumulative terms, the country was 4.4 per cent more passengers non-residents that by 2010, representing an increase over 181 thousand persons.

• La Superintendencia de Electricidad issued a resolution to fix the minimum power u000atechnique of 9 units of generation, which are connected to the national electrical system interconnected (SENI).

• According to the Ministry of finance, the Dominicans lost more than $8,000 million pesos in slot machines games during the year 2011. More than four thousand machines have been dismantled.

Beyond
· Applications for unemployment insurance in the United States fell by 50,000, to reach the number low from April 2008, a positive sign of the recovery of the labour market. However, economists caution that this fall may not be permanent, because of seasonal hiring for the Christmas

• The inflation in the us during the month of December had no variation, because the fall in energy prices offset the increase of the other products.

• World Bank reduced the projected growth of the global economy to 2.5% by 2012. The previous estimate u000acarried out last June projected a growth of 3.6%. Potential European recession and the downturn in emerging markets were the main reasons for the reduction in the growth estimated.

Chinese • grew 8.9% in the last quarter of 2011, the rate of growth lowest in the last 10 quarters. The slowdown in GDP growth caused many analysts to suggest the realization of new liquidity injections and fee reductions to stimulate the economy.

· Standard & Poor's cut the credit rating of the European financial stability Fund to AA . The reduction is due to the low ratings of France and Austria who are guarantors members of the Fund.
economia@aicoconsulting.net Twitter: @ aicoconsulting

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