www.reservebank.to | Official Website of Tonga's central bank
The National Reserve Bank of Tonga (Reserve Bank) was established on 1 July 1989 as the central bank of Tonga.
The principal objectives of the Reserve Bank shall be to maintain internal and external monetary stability, promote financial stability and promote a sound and efficient financial system. The Reserve Bank shall conduct its activities in a manner that supports macroeconomic stability and economic growth.
Financial Intelligence Quarterly Reports for December 2018
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- Category: Financial Intelligence
- Posted: 18 March 2019
The Financial Intelligence Unit continued with its preparation for Tonga’s Mutual Evaluation in 2019 through confirming technical assistance for its AML/CFT supervision function, engaging legal expertise of the International Monetary Fund in reviewing Tonga’s AML legislations as well as progressing with negotiation process with five foreign counterparts on signing MOUs.
Monthly Economic Review for January 2019
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- Category: Economic Releases
- Posted: 14 March 2019
January 2019 depicted a general slowdown in domestic activities mostly reflecting seasonal factors. The Reserve Bank’s outlook for strong domestic economic activity remains in the medium term despite the seasonal slowdown in activities over the month of January. Read more in the Monthly Economic Review of January 2019.
Banking Sector Development for September 2018
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- Category: Economic Releases
- Posted: 12 March 2019
Banks’ prospects for credit growth have reportedly been positive, and as such, the Reserve Bank forecasts a credit growth of 13.0% for the current year of 2018/19. Read more of the Banking Sector Development for September 2018 for more information and the Reserve Bank's outlook for the future.
Foreign Reserves Statistics for February 2019
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- Category: Financial Statistics
- Posted: 12 March 2019
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $5.4 million over the month of February 2019 to $473.5 million, equivalent to 7.9 months of imports. However, the official foreign reserves increased over the year by $25.5 million. Read more on the Foreign Reserve Statistics for February 2019.
Foreign Reserves rise again on receipt of official transfers
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- Category: Economic Releases
- Posted: 25 February 2019
The OET overall balance quickly bounced back from a deficit in the previous month to a surplus of $5.1 million in October 2018. The receipt of budgetary support and grant funds from development partners during the month recovered some of the losses on foreign reserves. Read more in the Overseas Exchange Transactions report for October 2018.
Foreign Reserves remains comfortable despite Government Debt and Oil import payments
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- Category: Economic Releases
- Posted: 25 February 2019
Foreign reserves dived in September by $22.8 million resulting in the highest monthly OET overall balance deficit recorded. Commencing of the principal government loan repayment to the Export-Import (EXIM) Bank of China, coupled with large oil import payments during the month brought official foreign reserves down by 5%. Read more in the Overseas Exchange Transactions report for September 2018.
Monetary Policy Decision - February 2019
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- Category: Press Release
- Posted: 19 February 2019
The National Reserve Bank of Tonga’s Board of Directors at its first meeting, on the 18th February 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Slight increase in private transfers drive remittances up in October
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- Category: Economic Releases
- Posted: 07 February 2019
Over the month, total remittances rose slightly by $0.5 million to $28.2 million. This resulted from slightly higher receipts from families abroad and private capital transfers. These increases had offset declines in compensation of employees receipts. Read more in the Remittances Report for October 2018.
Remittances dip in September similar to monthly trend in previous years
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- Category: Economic Releases
- Posted: 07 February 2019
Over the month of September, total remittances fell by $3.9 million to $27.7 million. This resulted from lower receipts from families abroad and a decline in receipts from the compensation of employees. Additionally, private capital transfer receipts slightly declined contributing further to the monthly decrease. Read more in the Remittances Report for September 2018.
Reserve Bank to raise awareness on foreign exchange
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- Category: Press Release
- Posted: 24 January 2019
The NRBT has recognised public concerns around the new Foreign Exchange Control Act 2018 (the FEC Act) leading to misunderstanding and misinterpretation of the law. The NRBT would like to clarify that there has been nothing new introduced in the FEC Act 2018 and the EC Directive that has not already existed in the old Act, Regulations and Exchange Control Policy Guidelines.
Monetary Policy Decision
- Details
- Category: Press Release
- Posted: 22 January 2019
The National Reserve Bank of Tonga’s Board of Directors at its first meeting of the year, on the 17th January 2019, approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Foreign Reserves rose by $9.8 million over December
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- Category: Press Release
- Posted: 21 January 2019
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose by $9.8 million over the month of December 2018 to $478.5 million, equivalent to 7.6 months of imports. Similarly, the official foreign reserves increased over the year by $56.0 million.
Monthly Economic Review for November 2018
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- Category: Economic Releases
- Posted: 18 January 2019
Sectoral performances in the local economy were mixed over the month. Total agricultural export volumes rose by 432.5 tonnes, reflecting the commencement of the squash season and higher export of root crops. On-going construction activities continued to boost performance in the secondary sector, supported by a rise in business loans for construction and individual housing loans.
Both deposits and lending grew
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- Category: Economic Releases
- Posted: 02 January 2019
Over the month of July 2018, the total banks lending grew by 1.2% to $452.9 million, after recording a slight decline last month. Lending to both businesses and households increased over the month with business lending contributing the most. Read more in the Banking Sector Developments report for August 2018.
