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.