| Principle objectives of the Bank
The principal objectives of the Bank shall be, to —
(a) maintain internal and external monetary stability; and
(b) promote a sound and efficient financial system.
Subject to subsection (1), the Bank shall conduct its activities in a manner that supports macroeconomic stability and economic growth.”
Functions of the Bank
The principal functions of the Bank shall be, to —
(a) issue currency;
(b) formulate and implement monetary policy;
(c) regulate as required the supply, availability and international exchange of money;
(d) hold and manage the external reserves of the Kingdom;
(e) provide advisory services to the Minister on banking and monetary matters;
(f) be the principal banker, fiscal agent and depository of the Government;
(g) undertake banking business, in Tonga or elsewhere, subject to the provisions of the Act;
(h) regulate and supervise financial institutions; and
(i) oversee and promote the efficient, sound and safe functioning of the payment system.