The Reserve Bank of Fiji left its benchmark interest rate at 0.5 percent during its January meeting. Policymakers said the decision was based on domestic and global economic developments which posed no immediate threat to the monetary policy objectives of low inflation and adequate foreign reserves. The Committee projected that the economy is expected to grow at a slightly higher rate of 1.7 percent in 2020, following an estimated 1 percent expansion in 2019, mostly to be boosted by the agriculture, information and communication, manufacturing, financial & insurance activities, wholesale & retail and accommodation & food service sector. Policymakers added that headwinds from the global economy coupled with the Coronavirus outbreak and the Australian bushfires could negatively weigh on the economic growth. Policymaker said that will continue to closely monitor economic developments as well as risks and align monetary policy accordingly.
Interest Rate in Fiji averaged 0.52 percent from 2010 until 2019, reaching an all time high of 2.50 percent in December of 2010 and a record low of 0.50 percent in January of 2011. This page provides - Fiji Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Interest Rate in Fiji is expected to be 0.50 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 0.75 in 12 months time. In the long-term, the Fiji Interest Rate is projected to trend around 1.00 percent in 2020, according to our econometric models.