The Reserve Bank of Fiji kept its benchmark interest rate at 0.25 percent during its June meeting, amid resurgence Covid-19 infections. Policymakers said that an accommodative monetary policy stance remains appropriate with the current weak economic performance and the outlook in the near term, amid a contract further in the domestic economy, due to the weak in consumption and investment. Inflationary pressures are expected to stem from increases in global crude oil and food prices. Meantime, foreign reserves are comfortable at around US 3.2 billion (24 June), sufficient to cover 10.9 months of retained imports, and are projected to remain comfortable into the medium term. Policymakers added that they will continue to closely monitor economic developments as well as risks and align monetary policy accordingly. source: Reserve Bank of Fiji
Interest Rate in Fiji averaged 0.49 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 August of 2021.
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 2022 and 1.00 percent in 2023, according to our econometric models.