The Reserve Bank of Fiji Board kept the Overnight Policy Rate unchanged at 0.25 percent during a meeting last week.

RBF Governor and Board Chairman, Ariff Ali states that recent indicators point to an improved economic outlook for 2024 compared with earlier assessments of domestic activity.

He states that record tourist arrivals in the year to August has outperformed expectations, growing twice the forecast at 6.9 percent.

Ali adds that higher disposable incomes and remittances support consumer spending. More positive outcomes were noted on the sectoral front such as electricity, timber and woodchips.

The RBF will continue to monitor incoming information and its implications on the outlook for inflation and foreign reserves and align monetary policy accordingly.