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.