The Reserve Bank of Fiji left its benchmark interest rate at 0.25 percent during its June meeting, amid the loosening of some coronavirus lockdown restrictions. Policymakers said that an accommodative monetary policy stance remains appropriate and complements government’s efforts to stabilise the economy amid low inflation expectations. The Committee noted that latest indicators point towards a slowdown in the domestic economy due to weak consumption and investment. Policymakers added that the economy will likely contract severely this year with sectoral performances significantly weak to date and inflation is expected to rise to 1 percent by year-end. The Committee added that they will continue to closely monitor economic developments as well as risks and align monetary policy accordingly.
Interest Rate in Fiji averaged 0.51 percent from 2010 until 2020, 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 July of 2020.
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 2021 and 1.00 percent in 2022, according to our econometric models.