The National Reserve Bank of Tonga’s board of directors at its 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.

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.

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.

The National Reserve Bank of Tonga’s board of directors at its 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.

The NRBT has recognised public concerns around the new Foreign Exchange Control Act 2018 (the FEC Act) leading to misunderstanding and misinterpretation of the law. The NRBT would like to clarify that there has been nothing new introduced in the FEC Act 2018 and the EC Directive that has not already existed in the old Act, Regulations and Exchange Control Policy Guidelines.

The National Reserve Bank of Tonga’s board of directors at its meeting on the 17th January 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.

The National Reserve Bank of Tonga’s board of directors at its meeting on the 20th December 2018 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.

At its meeting on the 20th December 2018, the National Reserve Bank of Tonga’s Board of Directors approved to release its Monetary Policy Statement (MPS) for August 2018. This Statement reviews Tonga’s economic growth and the Reserve Bank’s conduct of monetary policy in the six months to August 2018 and its outlook.

The Central Bank Governors of the South Pacific region met in Samoa on the occasion of the 33rd Pacific Central Bank Governors' meeting. The meeting's theme was ‘Strengthening Collaboration’, with the objective of promoting the prosperity and economic welfare of our member nations.

To implement the requirements of the Foreign Exchange Control Act 2018, the Reserve Bank in accordance with sections 6(2) and 32 of the Foreign Exchange Control Act 2018, prescribes the exchange control requirements in a Directive. The Exchange Control Directive is therefore issued by the Reserve Bank for use by authorised persons such as banks and foreign exchange dealers and will become effective on 1st November 2018.