The Reserve Bank of Fiji left its benchmark interest rate at 0.25 percent during its March meeting, amid the significant uncertainty and financial constraints faced by firms and households. Policymakers said that an accommodative monetary policy stance remains appropriate given the subdued domestic economic activity and output remaining well below potential. Inflationary pressures are expected to remain contained in the near term in the absence of any major supply-side shock. Meantime, foreign reserves are comfortable at around US 2.2 billion (25 March), sufficient to cover 6.8 months of retained imports and are projected to rise further in the coming months due to drawdown of external loans. Policymakers added that will continue to closely monitor economic developments as well as risks and align monetary policy accordingly. source: Reserve Bank of Fiji

Interest Rate in Fiji averaged 0.49 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 April 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. Looking forward, we estimate Interest Rate in Fiji to stand at 0.25 in 12 months time. 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.

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Fiji Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.25 0.25 2.50 0.25 2010 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-08-27 05:15 AM 0.25% 0.25% 0.25%
2020-09-24 04:30 AM 0.25% 0.25% 0.25%
2020-10-29 05:00 AM 0.25% 0.25% 0.25%
2020-11-26 04:15 AM 0.25% 0.25% 0.25%


News Stream
Fiji Keeps Key Interest Rate at 0.25%
The Reserve Bank of Fiji left its benchmark interest rate at 0.25 percent during its March meeting, amid the significant uncertainty and financial constraints faced by firms and households. Policymakers said that an accommodative monetary policy stance remains appropriate given the subdued domestic economic activity and output remaining well below potential. Inflationary pressures are expected to remain contained in the near term in the absence of any major supply-side shock. Meantime, foreign reserves are comfortable at around US 2.2 billion (25 March), sufficient to cover 6.8 months of retained imports and are projected to rise further in the coming months due to drawdown of external loans. Policymakers added that will continue to closely monitor economic developments as well as risks and align monetary policy accordingly.
2021-03-26
Fiji Keeps Interest Rate Unchanged
The Reserve Bank of Fiji held its benchmark interest rate at 0.25 percent during its November meeting, amid the reimposing of coronavirus lockdown restrictions in several countries. Policymakers said that an accommodative monetary policy stance remains appropriate and complements government’s efforts to stabilise the economy amid deflation expectations. The Committee noted that indicators point towards a slowdown in the domestic economy due to weak consumption, but some uptick was noted in sectoral performances over the review month. The central bank recorded a deflation 2.9% in October and is forecast to be 3% by year-end. For 2020, the central bank projected economic contraction on record at 19%, and the recovery forecast for next year is contingent on the reopening of borders and resumption of international travel. Given this uncertainty, economic growth for 2021 is anticipated to range between 1.6% and 8% percent, while in 2022, growth is forecast to be between 5.2% and 8.7%.
2020-11-26
Fiji Holds Key Interest Rate at 0.25%
The Reserve Bank of Fiji kept its benchmark interest rate at 0.25 percent during its October meeting, amid the easing of coronavirus lockdown restrictions. Policymakers said that an accommodative monetary policy stance remains appropriate and complements government’s efforts to stabilise the economy amid deflation expectations. The Committee noted that indicators point towards a slowdown in the domestic economy due to weak consumption, but the tax incentives along with the financial assistance rendered in the 2020-21 budget to the household, the accommodative monetary policy stance and various lending facilities should continue to support domestic economic activity in the months ahead. Policymakers said that while the outlook for the Reserve Bank’s twin monetary policy objectives of low inflation and adequate foreign reserves remains satisfactory, key risks such as the delayed resumption of international travel and the imminent threat of natural disasters persist.
2020-10-29
Fiji Keeps Interest Rate Unchanged
The Reserve Bank of Fiji held its benchmark interest rate at 0.25 percent during its September meeting, amid the reimposition of restrictions in some countries along with the continued closure of international borders have heightened uncertainties on the timing and pace of economic recovery. Policymakers said that an accommodative monetary policy stance remains appropriate and complements government’s efforts to stabilise the economy amid deflation expectations. The Committee noted that latest indicators point towards a slowdown in the domestic economy due to weak consumption, but the tax incentives along with the financial assistance rendered in the 2020-21 budget to the household should help stabilise and spur domestic demand over the coming months. The Committee reiterated that they will continue to maintain its accommodative stance and closely monitor economic developments and align monetary policy accordingly.
2020-09-24

Fiji Interest Rate
In Fiji, the interest rates decisions are taken by the Reserve Bank of Fiji. The official interest rate is the Overnight Policy rate. The RBF has two main objectives for monetary policy which include maintaining price stability and an adequate level of foreign reserves to support growth and improve economic prosperity and welfare for the people of Fiji.