At its meeting on 31st July 2018, the National Reserve Bank of Tonga’s board of directors approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending, particularly to the growth sectors, in order to support economic growth, and strengthen the monetary policy transmission mechanism.

The Supreme Court issued its ruling on 5th July 2018 on the application by the Pacific International Commercial Bank for the judicial review of the decision by the National Reserve Bank of Tonga (NRBT) to revoke the bank license of Pacific International Commercial Bank (PICB) on 26th July 2016.

At its meeting on the 15th June 2018, the National Reserve Bank of Tonga’s board of directors approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending, particularly to the growth sectors, 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 16 May 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, particularly to the growth sectors, 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 11th April 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, particularly to the growth sectors, 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 15th March 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, particularly to the growth sectors, 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 3rd October 2017 approved to maintain its current monetary policy measures. This is to encourage utilisation of the excess liquidity in the banking system, through further lending, particularly to the growth sectors, in order to support economic growth, and strengthen the monetary policy transmission mechanism.

At its meeting on the 17th January 2018, the National Reserve Bank of Tonga’s Board of Directors approved to release its Monetary Policy Statement (MPS) for August 2017. This Statement reviews Tonga’s economic growth and the Reserve Bank’s conduct of monetary policy in the six months to August 2017 and its outlook.

The National Reserve Bank of Tonga wishes to inform the general public that the Tonga Ma'ae Tonga Group Ltd has ceased operation and is no longer authorized to conduct foreign exchange business.

It has been brought to our attention that there are retail shops in Tongatapu including outer islands that continued to provide foreign exchange services to its customers, particularly foreign currency cash conversion without the required license.