Fiji policy interest rate
The Reserve Bank of Fiji's Overnight Policy Rate — the rate the RBF pays on overnight deposits placed by commercial banks with the Bank, and the anchor of the short-term interest rate structure. Set by the RBF Board under the Reserve Bank of Fiji Act 1983 at its MONTHLY monetary policy meeting (normally the last week of each month), against the Bank's twin objectives of adequate foreign reserves and low inflation.
| Current value | 0.25 percent |
|---|---|
| In force from | 2020-03-18 |
| Official source | RBF Press Release No 07 (18 March 2020) — 'RBF Reduces Overnight Policy Rate': Board reduced the OPR from 0.50% to 0.25%; level reaffirmed most recently in RBF Press Release No 14 of 25 June 2026, 'RBF Maintains the Overnight Policy Rate' |
| Last verified | 2026-07-23 |
| Verification | primary — No verification limitation recorded — read from the official source cited. |
| Provenance | source fingerprint |
What this value means
TRAP — DO NOT READ THE PRESS RELEASES AS RATE CHANGES. The OPR has been FROZEN at 0.25% since 18 March 2020, when the Board cut it 25bps from 0.50% as a COVID-19 stimulus measure. It has not moved since. Because the RBF Board meets and publishes MONTHLY, the rbf.gov.fj press-release feed carries a near-continuous stream of items titled 'RBF Maintains the Overnight Policy Rate' / 'RBF Maintains Monetary Policy Stance' — these are HOLDS, not changes. A naive source-watcher keyed on 'new RBF press release' or on the words 'Overnight Policy Rate' appearing in a fresh release will fire a false positive roughly twelve times a year. Only a release whose title contains 'Reduces' or 'Increases' (cf. No 07 of March 2020) is a genuine change; watch the numeric level, not the release count. Prior history: cut to 0.50% in November 2011 and held there until March 2020. Latest decision at confirmation: Press Release No 14, 25 June 2026 (https://www.rbf.gov.fj/press-release-no-14-rbf-maintains-the-overnight-policy-rate/) — OPR held at 0.25%; headline inflation 3.9% y/y and forecast near 6.0% by end-2026; foreign reserves $3.4bn as at 25 June 2026 = 4.7 months of retained imports; banking system liquidity $1.6bn as at 24 June 2026; 2026 GDP growth forecast cut to 1.5% from 3.0% on higher global fuel prices. The next Board decision was due late July 2026 and had not been published at confirmation. Note the RBF holds the OPR even while forecasting ~6% inflation, because the inflation is imported (fuel) and the Bank prioritises reserves and activity — so 'inflation rising' is not a signal that a hike is imminent.
Earlier values
| From | Value | Source |
|---|---|---|
| 2011-11-01 | 0.5 | RBF — OPR reduced to 0.50% in November 2011 and maintained u |
Get it programmatically
curl https://ausref.dev/v1/fj/policy-rate
# $0.001 per call — x402 on Base (USDC). No key, no signup.
# History: curl https://ausref.dev/v1/fj/policy-rate/history?from=2020-01-01
# Provenance: curl https://ausref.dev/provenance/fj/policy-rateOther Fiji series: VAT rate · minimum wage · public holidays · inflation rate (CPI) · corporate tax rate · income tax rates