The Board of Directors of the Reserve Bank of Tonga (NRBT) has decided to focus on two main goals in its August 2023 Monetary Policy Statement (MPS): first, to keep inflation below the 5% reference rate, including through seeking Government’s assistance in controlling domestic and wage inflation; and second, to provide targeted support towards economic recovery of vulnerable sectors to address supply shortages and promote business investments.
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Results for monetary policy
Monday 11 September 2023
Friday 23 June 2023
Following the 2022 COVID-19 pandemic, HTHH volcano eruption and tsunami ashfall damages, the monetary and financial policies of the National Reserve Bank of Tonga are critical to stay relevant to be supportive of the Kingdom’s economic recovery contributing to macro stability in 2023, resilience to shocks in the short to medium term.
Monday 9 November 2015
Tonga has accumulated a Foreign Reserve of $311.7 million pa’anga at the end of September, while its domestic inflation rate was 3.2% for September, according to the latest figures on the National Reserve Bank of Tonga website.
Friday 6 December 2013
Tonga's banks remain flush with funds, and are being urged to lend more to help stimulate an economy that looks as if it has stalled this year, as all key industries in Tonga except for construction recorded falls in lending, according to figures released today.