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.


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Fiji Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.50 2.50 0.50 2010 - 2019 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2019-09-01 11:00 PM 0.5% 0.5% 0.5%
2019-09-26 05:30 AM 0.5% 0.5% 0.5%
2019-11-28 04:40 AM 0.5% 0.5% 0.5%
2020-01-31 01:20 AM 0.5% 0.5% 0.5%
2020-02-27 03:30 AM 0.5% 0.5%
2020-03-26 03:30 AM 0.5%
2020-04-30 03:30 AM 0.5%
2020-05-28 03:30 AM 0.5%


News Stream
Fiji Holds Interest Rate at 0.5%
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.
2020-01-31
Fiji Keeps Interest Rate at 0.5%
The Reserve Bank of Fiji held its benchmark interest rate at 0.5 percent during its November meeting, saying that the deceleration in inflation and domestic economy warrants the continuation of the accommodative monetary policy stance. Policymakers noted that accommodative macroeconomic policies are needed to raise growth whilst maintaining prices and external stability. The Bank lowered its 2019 GDP estimate to 1 percent, the slowest growth rate in a decade, compared to 2.7 percent forecast in May. Policymakers added that in line with the latest business expectations and retail sales survey, private sector credit further slowed in October.
2019-11-28
Fiji Keeps Interest Rate at 0.5% in September
The Reserve Bank of Fiji held its benchmark interest rate at 0.5 percent during its September meeting, saying that the moderation in the global and domestic economy and comfortable level of inflation and foreign reserves warrants the continuation of the accommodative monetary policy stance. Policymakers noted that latest indicators point towards a slowdown in the domestic economy due to weak sugar, gold and timber output. Meantime, higher tourism earnings and strong remittance inflows have further strengthened Fiji’s external position. Year-end inflation is now expected to be 2.0 percent, a downward revision from the 3.0 percent projected earlier. The central bank reiterated that it will continue to closely monitor international and domestic developments and align monetary policy accordingly.
2019-09-26
Fiji Holds Policy Rate at 0.5%
The Reserve Bank of Fiji held its benchmark interest rate at 0.5 percent during its August meeting, saying that the moderation in the global and domestic economy and comfortable level of inflation and foreign reserves warrants the continuation of the accommodative monetary policy stance. Policymakers noted that latest indicators point towards a slowdown in the domestic economy due to weak private sector credit growth as well as labour demand, and voiced concerns about the escalating trade impasse between the US and China.
2019-09-01

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.