{"id":24904,"date":"2011-11-02T12:51:00","date_gmt":"2011-11-02T16:51:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/11\/02\/reserve-bank-of-fiji-cuts-rate-100bps-to-0-50\/"},"modified":"2011-11-02T12:51:00","modified_gmt":"2011-11-02T16:51:00","slug":"reserve-bank-of-fiji-cuts-rate-100bps-to-0-50","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/11\/02\/reserve-bank-of-fiji-cuts-rate-100bps-to-0-50\/","title":{"rendered":"Reserve Bank of Fiji Cuts Rate 100bps to 0.50%"},"content":{"rendered":"<p>The&nbsp;<a href=\"http:\/\/www.reservebank.gov.fj\/\" target=\"_blank\">Reserve Bank of Fiji<\/a>&nbsp;cut its overnight policy rate by 100 basis points to 0.50% from 1.50% previously, in order to support economic growth in the context of an uncertain global outlook. &nbsp;Acting Chairman, Deo Saran, <a href=\"http:\/\/www.fijitimes.com\/story.aspx?id=184773\">said<\/a>:&nbsp;&#8220;The weaker outlook on global and domestic growth warrants such a move, particularly at this juncture where foreign reserves levels are comfortable and the outlook is stable, while inflation is expected to moderate over the coming months,&#8221;<\/p>\n<div><a name='more'><\/a><\/div>\n<div>The Reserve Bank of Fiji last reduced the OPR by 50 basis points to 2.00% during its April meeting this year. Fiji recorded an annual inflation rate of 9.7% in September, compared to 10.1% in July and 10.3% in June, while the Bank has previously forecast end-2011 inflation of 7.0 percent.&nbsp;<\/div>\n<div>Fiji&#8217;s economy contracted -0.2% in 2010, but is forecast to rebound +2.7% this year and grow 2.1% in 2012. The Fijian dollar (FJD) has gained about 7% against the US dollar so far this year, while the USDFJD exchange rate last traded around 1.79<\/div>\n<div><\/div>\n<div><a href=\"http:\/\/www.centralbanknews.info\/\" target=\"_blank\">www.CentralBankNews.info<\/a><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-3560672927352960566?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Reserve Bank of Fiji&nbsp;cut its overnight policy rate by 100 basis points to 0.50% from 1.50% previously, in order to support economic growth in the context of an uncertain global outlook. &nbsp;Acting Chairman, Deo Saran, said:&nbsp;&#8220;The weaker outlook on global and domestic growth warrants such a move, particularly at this juncture where foreign reserves levels &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/11\/02\/reserve-bank-of-fiji-cuts-rate-100bps-to-0-50\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Reserve Bank of Fiji Cuts Rate 100bps to 0.50%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-24904","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=24904"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/24904\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=24904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=24904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=24904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}