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.

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Fiji Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.25 0.25 2.50 0.25 2010 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-03-18 12:00 AM 0.25% 0.5% 0.5%
2020-04-30 04:50 AM 0.25% 0.25% 0.25%
2020-05-28 05:40 AM 0.25% 0.25% 0.25%
2020-06-25 04:15 AM 0.25% 0.25% 0.25%
2020-07-30 03:30 AM 0.25% 0.25%
2020-08-27 03:30 AM 0.25%
2020-09-24 03:30 AM 0.25%
2020-10-29 03:30 AM 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 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.
2020-06-25
Fiji Keeps Key Interest Rate at 0.25%
The Reserve Bank of Fiji left its benchmark interest rate at 0.25 percent during its May meeting, amid the impact of travel restrictions on the economy. Policymakers said that an accommodative monetary policy stance remains appropriate and complements government’s efforts to stabilise the economy amid low inflation expectations. For 2020, the Fiji economy is projected to note a severe contraction, due to both supply and demand-side shocks caused by the COVID-19 outbreak. Meantime, foreign reserves are comfortable at around US 2.2 billion (28 May), sufficient to cover 6.9 months of retained imports of goods and non-factor services. Policymakers added that will continue to closely monitor economic developments as well as risks and align monetary policy accordingly.
2020-05-28
Fiji Holds Key Interest Rate at 0.25%
The Reserve Bank of Fiji held its benchmark interest rate at 0.25 percent during its April meeting, following a rate reduction last month, in an attempt to boost economic growth amid low inflation expectations. Policymakers added that an accommodative monetary policy stance is appropriate in this environment of significant uncertainty where investment spending is projected to remain subdued. For 2020, the bank revised its economic forecast to shrink 4.3 percent. Meantime, foreign reserves are comfortable at around US 2.2 billion (30 April), sufficient to cover 6.9 months of retained imports of goods and non-factor services. Policymakers said that will continue to closely monitor economic developments as well as risks and align monetary policy accordingly.
2020-04-30
Fiji Slashes Interest Rates
The Reserve Bank of Fiji has lowered its benchmark interest rate to 0.25 percent from 0.50 percent during a March emergency meeting, following the recent coronavirus outbreak and its negative impact on Fiji’s economy. The bank noted that restrictions on travel and trade have already hit global output as market sentiment continued to deteriorate. Also, the interest rate corridor on either side of the overnight policy rate will be reduced to 25 bps, from the previous 50 bps.
2020-03-18

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.