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The Central Bank of the Dominican Republic left its benchmark rate unchanged at 5.75% in June 2025, following 125bps in cuts since mid-2024. The decision reflects rising global uncertainty from geopolitical conflicts and volatile oil prices, as well as persistently high US interest rates amid tariff-related inflation risks. Domestically, recent liquidity measures are expected to support private sector credit as monetary policy transmission takes hold. Inflation remained within the 4.0% ± 1.0% target, with headline inflation at 3.84% and core at 4.22% in May. The central bank projects both to stay within range through 2026.

Dominican Republic Holds Interest Rate at 5.75% in June

The S&P/TSX Composite Index rose 0.6% to close at a fresh record of 26,857 on Monday, amid renewed US trade negotiations and strong gains in major mining equities. Ottawa’s last-minute repeal of the 3% digital services tax has cleared the path for talks with Washington—scheduled to conclude by July?21—easing the threat of punitive US tariffs on Canada’s technology and telecom exports. Financial and tech mega-caps lifted the Toronto exchange, with RBC, Shopify, TD Bank, and BMO each adding between 0.5% and 1%. Meanwhile, mining giants Agnico Eagle, Wheaton Precious, Barrick Gold and Franco-Nevada rose between 0.7% and 2.3% as gold prices rebounded. On the macroeconomic front, markets digested May’s preliminary GDP estimate—another 0.1% monthly contraction—underscoring the Canadian economy’s continued vulnerability to external trade disruptions.

TSX Renews Record High

Uruguay recorded a $30.6 million trade surplus in May 2025, rebounding from a $28.1 million deficit in the same month last year and marking its first surplus since August 2024. Exports rose 8.4% year-over-year to $1.03 billion, driven by strong growth in primary goods (+12.8%) and manufactured products (+12.2%), while utilities exports plunged 93.6%. Imports increased 2.1%, led by higher purchases of intermediate goods (+7.6%) and consumer goods (+7.5%). In contrast, capital goods imports dropped 20.4%.

Uruguay Trade Balance Swings to Surplus

US stocks rose on Monday as investors aimed to close out a volatile first half of 2025 with fresh record highs. The S&P 500 and Nasdaq 100 both gained 0.5%, extending their all-time highs, while the Dow added 207 points, supported by strong performances from Big Tech giants like Microsoft and Meta, which also reached new peaks. Optimism increased amid signs of progress in trade negotiations, highlighted by Canada’s recent decision to scrap its digital services tax targeting US tech firms—an easing of tensions that had unsettled markets. Investors remain focused on the July 9 deadline for the possible expiration of President Trump’s tariff reprieve, hoping that additional trade deals will help avoid tariff escalations. Meanwhile, Treasury yields declined as expectations grew for Federal Reserve rate cuts later this year, creating a favorable environment for equities. The S&P 500 marked its best quarter since late 2023, led by strong corporate earnings and stable inflation.

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