7 Sep 2006

Fiji Gov and Banks pleased no increase in interest rates

8:33 am on 7 September 2006

Fiji's finance ministry and commercial banks have welcomed the decision of the Reserve Bank not to increase rates.

The Fiji Times quotes the ministry chief executive, Pita Uluinaceva, as saying the decision will help the economy.

The executive secretary of the Association of Banks, Rasik Lal Jogia, says the move would lift the level of investment and help improve growth rates.

The acting general manager of the ANZ Bank, Cecil Browne, says the Reserve Bank's earlier tightening of monetary policy, is yet to have an impact on credit conditions.