Three of Fiji's biggest commercial banks have increased interest rates this week.
The Fiji Times reports that the move comes a month after the Reserve Bank raised the official interest rate by 1 percent to 3.25 percent.
The Reserve Bank action was aimed at curbing soaring consumer spending in a bid to reduce the country's import bill which resulted in a trade deficit of nearly 900 million US dollars last year.
The increase in interest rates by the commercial banks applies to a whole range of consumer and business loans as well as savings products.
