February 2025 Monetary Policy focuses on Strengthening Policy Transmission and Effectiveness

The National Reserve Bank of Tonga (NRBT) released its Monetary Policy Statement (MPS) for February 2025, following approval by the Board of Directors. The MPS states that since internal and external stability are expected to be maintained in the near-term, the NRBT will continue its accommodative monetary policy stance over the next six months to promote growth, while gradually strengthening its policy tools’ influence on monetary conditions, and tackle access to finance barriers.

Also read in Tongan: Fokotu’utu’u Fakapa’anga Mei Fepueli 2025, Fakamālohia ke a’usia ‘a e ngaahi taumu’a ngāue ‘a e Pangikē Pule

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Monthly Economic Update: January 2025

Amble foreign reserves and strong capital positions keeps the financial system stable. The market is flushed with excess liquidity from donor funded projects, and remittances. Credit growth is trending up, but anticipated vulnerabilities to asset quality are starting to materialize, prompting prudent response by the NRBT to curtail risks to the financial system. The NRBT will continue to prioritise price stability. At the same time, the NRBT will exercise vigilance in managing risks and vulnerabilities in the financial system to maintain financial stability and support economic growth.

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Default Judgement on TDB Damage Claim Against the National Reserve Bank of Tonga Set Aside by Lord Chief Justice Bishop

In a ruling on Monday, January 27, 2025, Lord Chief Justice Bishop issued a court order that set aside the Default Judgment that had granted TDB and 2 other plaintiffs Damage Claims of about $30 million against the National Reserve Bank of Tonga (NRBT) and Governor Moeaki, along with three journalists.

Also read in Tongan: Tu‘utu‘uni ‘a e ‘Eiki Fakaamaau Lahi Justice Bishop ke fakata‘e‘aonga‘i ‘a e tu‘utu‘uni ne tali ai e ‘eke ongoongo maumau ‘a e TDB ki he Pangikē Pule Fakafonua ‘o Tonga´

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Tonga’s 2023 New Currency Series Winner Of HSP Asia 2024 Best New Banknote Series Award

The National Reserve Bank of Tonga (NRBT) wins the High Security Printing (HSP) Asia 2024 “Best New Banknote Series” award with its New Currency Series launched by HRH Prince Ata on 4^th December 2023 in Nuku’alofa. The prestigious Regional Banknote and ID Document of the Year Awards form part of the HSP Asia Conference which was held in Bangkok, Thailand on 2 - 4 December 2024.

Also read in Tongan: Ikuna 'e he Seti Pa'anga Pepa Fo'ou 2023 'o Tonga 'a e Pale HSP 'Esia 2024 Ki he Pa'anga Fo'ou Lelei Taha

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Financial Sector Meeting on Monetary Policy and Interest Rates

The National Reserve Bank of Tonga discussed with the financial sector its August 2024 monetary policy, interest rates and improving access to finance for underserved sectors. The event took place at Fa’onelua Convention Centre on 20th September 2024, gathering key stakeholders from the financial sector to discuss actionable strategies that can positively impact our nation’s economic landscape.

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Twin Milestones for the National Reserve Bank of Tonga in 2024

The National Reserve Bank of Tonga (NRBT) marks its 35th anniversary on Monday 16 September 2024 with an audited net profit of $35 million as its twin milestones. The $35.8 million profit in 2024 is 75 percent higher than last year’s 2023 record profit of $20 million.

Also read in Tongan: Makamaile Māhanga ‘a e Pangikē Pule Fakafonua ‘a Tonga ‘i he 2024

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Reserve Bank’s August 2024 Monetary Policy Will Promote Greater Access to Finance

The August 2024 MPS maintains the current monetary policy that keeps a watchful eye against inflation threats and supports economic recovery through maintaining the statutory required deposit at 15% and the zero-percent monetary policy rate while considering easing exchange control requirements and maintaining an exchange rate regime that supports greater macroeconomic stability.

Also read in Tongan: Tokanga ‘a e Pangikē Pule΄ ke faka’ai’ai hono ngaue’aki ‘a e ngāue fakapa‘anga ‘i he‘ene fokotu‘utu‘u ngaue fakapa‘anga ‘Aokosi 2024

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Unauthorized Foreign Exchange Services

The National Reserve Bank of Tonga wishes to inform the general public that the licenses to act as a foreign exchange dealer (License Type A) for Freedom Pacific Limited and Fiefia Finance Money Transfer Limited have been cancelled.

Also read in Tongan: Kaniseli é he Pangikē Pule Fakafonua á Tongá á e Laiseni á e Kautaha Fakafehū’aki Pa’anga Muli

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Unclaimed Monies - as of June 2024

Please be advised that account holders (owners) of listed unclaimed monies are required to make your claim to your respective banks within 3 months from the first date of this publication. In accordance with section 94 of the Banking Act 2020 states, that any remaining unclaimed funds and properties after three (3) months claim period have met its expiry date, shall be presumed to be abandoned funds or properties and any claim shall be addressed directly to the Minister of Finance and is subject to the approval of the Minister of Finance.

Kindly note that advertisement cost will be deducted accordingly. For further enquiries or clarification please contact Financial Institutions department on telephone 24-057 or email nrbt@reservebank.to

List of Unclaimed Monies

The Role of the National Reserve Bank of Tonga

At the heart of Tonga’s financial health, the National Reserve Bank of Tonga (NRBT) does more than just act as the central bank. We play a crucial role in keeping our economy safe, and helping Tonga grow.

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