Reserve Bank of Fiji turned to unconventional monetary policy in wake of last year’s ‘devastating’ floods
The Reserve Bank of Fiji turned to unconventional policy tools in an attempt to "widen the scope for a solid domestic recovery" following the "widespread devastation" caused by a series of natural disasters in 2012, according to its latest annual report, released today.
The central bank held its benchmark interest rate at 0.5% throughout the year, which created "historically low levels of interest rates in the financial system", but had to turn to additional tools to combat the "prevailing
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