Banking System is ready to address the impact of COVID-19
- Details
- 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
- Details
- 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.
2020