Reserve Bank of Fiji Cuts Rate 100bps to 0.50%

The Reserve Bank of Fiji cut its overnight policy rate by 100 basis points to 0.50% from 1.50% previously, in order to support economic growth in the context of an uncertain global outlook. Acting Chairman, Deo Saran, said: "The weaker outlook on global and domestic growth warrants such a move, particularly at this juncture where foreign reserves levels are comfortable and the outlook is...