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.

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.

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.

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.

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 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.

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.

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 National Reserve Bank of Tonga (NRBT) in collaboration with the Alliance for Financial Inclusion (AFI), and the Pacific Islands Regional Initiatives (PIRI) is conducting a 2 days roadshow on Regulatory Sandbox commencing from 26th – 27th November 2019.

The Reserve Bank of Australia hosted Governors from South Pacific Central Banks on 19-20 November in Sydney for the 34th South Pacific Central Bank Governors’ Meeting.

Press Release a courtesy of the Reserve Bank of Australia.