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.

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Fiji Interest Rate


Calendar GMT Actual Previous Consensus TEForecast
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 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
Fiji Keeps Key Interest Rate at 0.25%
The Reserve Bank of Fiji held its benchmark interest rate at 0.25 percent during its August meeting, amid a resurgence of Covid-19 infections. Policymakers said that an accommodative monetary policy stance remains appropriate with the current economic performance, with a further contract in the GDP due to the weak in consumption and investment. Inflationary pressures are expected to be slightly higher at 2 percent this year, on rising global commodity prices and supply chain disruption. For 2021, the central bank projected economic contraction at 4.1 percent, and the economy is expected to rebound to 6.2 percent in 2022, lifted the resumption of tourism activity. Meantime, foreign reserves are comfortable at around US 3.3 billion (26 August), sufficient to cover 11.5 months of retained imports. Policymakers added that they will continue to closely monitor economic developments and align monetary policy accordingly.
2021-08-27
Fiji Holds Interest Rate Unchanged
The Reserve Bank of Fiji kept its benchmark interest rate at 0.25 percent during its June meeting, amid resurgence Covid-19 infections. Policymakers said that an accommodative monetary policy stance remains appropriate with the current weak economic performance and the outlook in the near term, amid a contract further in the domestic economy, due to the weak in consumption and investment. Inflationary pressures are expected to stem from increases in global crude oil and food prices. Meantime, foreign reserves are comfortable at around US 3.2 billion (24 June), sufficient to cover 10.9 months of retained imports, and are projected to remain comfortable into the medium term. Policymakers added that they will continue to closely monitor economic developments as well as risks and align monetary policy accordingly.
2021-06-25

Fiji Last Unit Reference Previous Highest Lowest
Interest Rate 0.25 percent Sep/21 0.25 2.50 0.25


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.