The Reserve Bank of Fiji left its benchmark interest rate at 0.25 percent during its September meeting, amid easing COVID-19 restrictions. Policymakers said that an accommodative monetary policy stance remains appropriate with the current economic performance, amid weak consumption and investment. Inflationary pressures are expected to be higher at 2 percent this year, after hovering in negative territory for most of the last twenty months, due to rising global energy prices. Meanwhile, foreign reserves are comfortable at around US 3.2 billion (30 September), sufficient to cover 11 months of retained imports. Policymakers added that they will continue to closely monitor economic developments and align monetary policy accordingly.
. source: Reserve Bank of Fiji
Interest Rate in Fiji averaged 0.48 percent from 2010 until 2021, reaching an all time high of 2.50 percent in December of 2010 and a record low of 0.25 percent in March of 2020. This page provides - Fiji Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Fiji Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on October of 2021.
Interest Rate in Fiji is expected to be 0.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Fiji Interest Rate is projected to trend around 0.50 percent in 2022 and 1.00 percent in 2023, according to our econometric models.