The Reserve Bank of Fiji kept its benchmark interest rate unchanged at a record low of 0.25 percent during its November meeting, saying an accommodative monetary policy stance remained appropriate, amid a gradual economic recovery that was supported by an improvement in consumption and investment, rising vaccination rates and further easing curbs. Policymakers noted there was a bounce-back in domestic economic activity ahead of the 2022 National Election, although it remains below pre-pandemic levels. On prices, the central bank projected the country's Inflation over the next 12 months to rise further, due to higher fuel and food prices. Turning to foreign reserves, the amount stood at USD 3.1 billion as of November 25th, sufficient to cover 10.6 months of retained imports. Policymakers reiterated that they will remain vigilant in their macroeconomic assessment given the evolving global and domestic conditions, 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 September of 2022.

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 2023 and 1.00 percent in 2024, according to our econometric models.

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Fiji Interest Rate



Related Last Previous Unit Reference
Interest Rate 0.25 0.25 percent Aug 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.25 0.25 2.50 0.25 2010 - 2022 percent Daily

News Stream
Fiji Leaves Monetary Policy Unchanged
The Reserve Bank of Fiji kept its benchmark interest rate unchanged at a record low of 0.25 percent during its November meeting, saying an accommodative monetary policy stance remained appropriate, amid a gradual economic recovery that was supported by an improvement in consumption and investment, rising vaccination rates and further easing curbs. Policymakers noted there was a bounce-back in domestic economic activity ahead of the 2022 National Election, although it remains below pre-pandemic levels. On prices, the central bank projected the country's Inflation over the next 12 months to rise further, due to higher fuel and food prices. Turning to foreign reserves, the amount stood at USD 3.1 billion as of November 25th, sufficient to cover 10.6 months of retained imports. Policymakers reiterated that they will remain vigilant in their macroeconomic assessment given the evolving global and domestic conditions, and align monetary policy accordingly.
2021-11-26
Fiji Keeps Key Interest Rate at 0.25%
The Reserve Bank of Fiji held its benchmark interest rate at 0.25 percent during its October meeting, amid further loosening COVID-19 restrictions. Policymakers said that an accommodative monetary policy stance remains appropriate with the current economic performance, amid gradual economic recovery. The GDP is still estimated to record a small contraction in 2021, while inflationary pressures are expected to reach 2 percent this year, after hovering in negative territory (-2.6 percent) at the end of 2020, due to rising energy and food prices. Meanwhile, foreign reserves are comfortable at around US 3.1 billion (28 October), sufficient to cover 10.7 months of retained imports. Policymakers added that they will continue to support the economic recovery and align monetary policy accordingly.
2021-11-02
Fiji Holds Key Interest Rate at 0.25%
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.
2021-10-04