This paper considers dual-rate systems, where the output is measured at a relatively slow rate while the control signal is adjusted at a faster rate. The output sampling time is an integer multiple of the input sampling time. The paper examines dual-rate inferential control systems, which consist of a fast model, a slow model, and a switch. Missing output samples are estimated using the fast single-rate model. The single-rate control algorithm is then implemented at the fast-sampling rate. The fast-sampling discrete-time model is derived from the plant’s continuous-time model using the first-order hold (FOH) element. A discrete LQ regulator is proposed for this plant model, with a prescribed degree of stability (all closed-loop eigenvalues are within the range 0 < λ < 1 in magnitude). The matrix gain is calculated offline, and an online method for calculating the regulator gain is provided. The regulator gain is calculated using policy iteration, specifically Hewer’s algorithm. Finally, it is demonstrated that the presented inferential control system remains effective in the presence of multiplicative unmodeled dynamics. The main contributions of the paper are: (i) Designing the LQ regulator with a prescribed degree of stability using reinforcement learning (RL) (generalized policy iteration); and (ii) Considering the robust stability of the inferential control system in the presence of multiplicative unmodeled dynamics using the lifting technique.