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.
Monthly Economic Review for March 2020
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- Category: Economic Releases
- Created: 02 June 2020
In light of the developments during March, the impact of TC Harold, and the border remains closed until mid-June, the Reserve Bank is projecting an economic downturn for Tonga in 2019/20. This may continue to 2020/21 depending on the duration of the COVID-19 pandemic.
Remittances for November 2019
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- Category: Economic Releases
- Created: 29 May 2020
Despite a slight decline in remittances by $0.4 million (1.2%), it was at a total of $29.0 million in November 2019. Compensation of employees slightly rose over the month and was outweighed by the decline in private transfers, private capital transfers, and social benefits. Read more in the Remittance for November 2019.
Overseas Exchange Transactions for November 2019
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- Category: Economic Releases
- Created: 29 May 2020
The overall OET balance recorded a $0.2 million surplus in November 2019 after three consecutive months of deficit in the overall balance. This was attributed to the total OET payments falling over the month by $18.3 million, which is more than the decline of $13.4 million in total receipts. Read more in the Overseas Exchange Transactions of November 2019.
Banking Sector Development for December 2019
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- Category: Economic Releases
- Created: 15 May 2020
The banks’ total lending for the month of December 2019 decreased by $3.5 million (0.7%) to $500.9 million. Lending to businesses fell and offset the increase in household loans. In December 2019, the banks’ total deposits slightly declined by $0.1 million (0.02%) to $607.4 million. Read more on the Banking Sector Development for December 2019.
Foreign Reserves Statistics for April 2020
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- Category: Financial Statistics
- Created: 13 May 2020
Official foreign reserves held by the National Reserve Bank of Tonga (NRBT) rose over the month and year to April 2020 by $17.6 million and $10.9 million respectively to $475.1 million, equivalent to 6.9 months of imports. Read more on the Foreign Reserve Statistics for April 2020.
Financial Intelligence Quarterly Reports for March 2020
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- Category: Financial Intelligence
- Created: 06 May 2020
The Financial Intelligence Unit received its team of assessors for the onsite visit in Tonga. This specific visit is for Tonga to understand its ML/TF risks and to conduct the first National AML/CFT Risk Assessment in the past years.
Monetary Policy Decision - April 2020
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- Category: Press Release
- Created: 05 May 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 1st May 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending to growth sectors and to support the economy from the impacts of COVID-19.
Financial System Services Adjust to Comply with Government State of Emergency Rules relating to Covid-19
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- Category: Press Release
- Created: 26 March 2020
The Reserve Bank continues to work together with Government, the Association of Banks and non-bank financial institutions to enhance preparedness to minimize the financial risks from Covid-19. At its Board of Directors meeting on the 26 March 2020, the Reserve Bank agreed to provide financial assistance to Government in its effort to provide financial relief to the sectors affected by the Covid-19 outbreak.
Monetary Policy Decision - March 2020
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- Category: Press Release
- Created: 26 March 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 18th March 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending to growth sectors in order to support domestic economic activities and growth.
Monetary Policy Decision - February 2020
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- Category: Press Release
- Created: 26 March 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 25th February 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Banking System is ready to address the impact of COVID-19
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- Category: Press Release
- Created: 19 March 2020
The Governor reported that Tonga’s economic fundamentals are strong, however, the coronavirus (COVID-19) is expected to adversely impact the external account balances, the foreign reserves, the fiscal account and consequently economic growth. The Reserve Bank will continue to monitor and assess the coronavirus impact on the financial system and the economy, and will adjust these monetary policy measures, if required, to maintain financial and monetary stability.
Monetary Policy Decision - January 2020
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- Category: Press Release
- Created: 24 January 2020
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 21st January 2020, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Monetary Policy Decision - December 2019
- Details
- Category: Press Release
- Created: 19 December 2019
The National Reserve Bank of Tonga’s Board of Directors at its board meeting on the 17th December 2019, approved to maintain its current monetary policy measures. This is to encourage utilization of the excess liquidity in the banking system, through further lending in order to support economic growth and strengthen the monetary policy transmission mechanism.
Reserve Bank's Annual Awards Night 2019
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- Category: Press Release
- Created: 13 December 2019
The Reserve Bank celebrated its Annual Awards Night on Thursday 12th December 2019 at its Conference Centre. The Awards Night is to highlight and recognise the achievements of the staff over the year against its Corporate Plan targets. The highlighted awards were given to the Best Performing Staff of the year, staff who made the Best Progress and the Security of the Year.
