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.
Monetary Policy Decision - May 2019
- Details
- Category: Press Release
- Created: 16 May 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 14th May 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.
Monthly Economic Review for March 2019
- Details
- Category: Economic Releases
- Created: 16 May 2019
Domestically, economic activities were mixed during the month. The Reserve Bank expects domestic economic activity to remain positive in the medium term. Furthermore, the foreign reserves is expected to remain at comfortable levels and inflation to continue remaining below the Reserve Bank’s inflation reference rate of 5% per annum throughout 2019.
Banking Sector Development for January 2019
- Details
- Category: Economic Releases
- Created: 08 May 2019
January 2019 recorded a monthly credit growth of 0.6%, underpinned by an expansion in loans to both public and private enterprises. All three categories of deposits increased over January 2019, bringing the banks’ total deposits to a high level of $631.5 million. Read more of the Banking Sector Development for January 2019 for more information
Currency Redesign Concept for the 5 & 10 Seniti
- Details
- Category: Public Notice
- Created: 08 May 2019
In accordance with Clause 45 of the Constitution of Tonga and Section 25 of the National Reserve Bank of Tonga Act, the Bank made changes to Tonga’s current 5 & 10 seniti circulating coins to be easily identified by the public for their everyday cash transactions.
Foreign Reserves Statistics for April 2019
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- Category: Financial Statistics
- Created: 07 May 2019
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) declined by $0.8 million over the month of April 2019 to $464.2 million, equivalent to 7.7 months of imports. The monthly movement was attributed mainly to higher import payments and repayment of government loans. Read more on the Foreign Reserve Statistics for April 2019.
Monetary Policy Decision - April 2019
- Details
- Category: Press Release
- Created: 07 May 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 30th April 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.
Remittances for December 2018
- Details
- Category: Economic Releases
- Created: 01 May 2019
As expected, total remittances increased in December reflecting the usual trend for December. Each category recorded an increase over the month except receipts of private capital transfers which declined. Remittance receipts are forecasted to remain at high levels in the upcoming months, however, to increase at a slower pace. Read more in the Remittance release for December 2018.
Overseas Exchange Transactions for December 2018
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- Category: Economic Releases
- Created: 01 May 2019
The balance of the overall OET surplus fell by $1.5 million in December to $9.8 million. Despite recording a lower surplus than last month, there were higher income, private transfer, and travel receipts which assisted in partially offsetting the overall decline. Read more in the Overseas Exchange Transactions release of December 2018.
World Venture
- Details
- Category: Press Release
- Created: 16 April 2019
It has come to the attention of The National Reserve Bank of Tonga (Reserve Bank) that the public has engaged in investing with “WorldVenture.” WorldVenture is a Multi-Level Marketing Company and is currently being promoted as a travel or tourism business, with its head office based in the United States.
Use of the name "Bank"
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- Category: Press Release
- Created: 03 April 2019
The National Reserve Bank (Reserve Bank) would like to remind the general public that only licensed banks shall use “bank” as part of its name and any representations made by an entity that can appear to be advertising itself as a bank without a valid banking license is prohibited under the Financial Institutions Act.
Monetary Policy Decision - March 2019
- Details
- Category: Press Release
- Created: 27 March 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 21st March 2019, approved to maintain its current monetary policy measures outlined below. This accommodative monetary policy stance is to encourage utilisation of the excess liquidity in the banking system, through further lending to support economic growth and strengthen the monetary policy transmission mechanism.
Financial Intelligence Quarterly Reports for December 2018
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- Category: Financial Intelligence
- Created: 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.
Foreign Reserves rise again on receipt of official transfers
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- Category: Economic Releases
- Created: 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
- Details
- Category: Economic Releases
- Created: 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
- Details
- Category: Press Release
- Created: 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.
