The Reserve Bank of Fiji Board has agreed to keep the Overnight Policy Rate unchanged at 0.5 per cent.

Governor Ariff Ali said the sectoral performances for 2019 are expected to be generally positive , consistent with the current favourable outlook for the domestic economy.

Barring any major shocks, Ali says 2019 should register the tenth consecutive year of positive growth with the Fiian economy anticipated to expand by 3.4 per cent.

The outlook for the Reserve Bank’s twin monetary policy objectives remains intact.

Foreign reserves are adequate at $1.9million as at 21 February, sufficient to cover 4.2 months of retained imports of oods and non-factor services and are expected to remain stable in the medium term.

Annual inflation edged-up to 5.1 per cent in January from 4.9percent in December 2019.

Core inflation, excluding volatile items such as food, energy, education and yaqona was lower at 3.4 per cent.

Headline inflation is expected to subside to around 3.5 per cent by the end of the year.

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