Business
Sayed-Khaiyum welcomes interest rate drop
Kreetika Kumar January 8, 2021 4:55 pm
Economy Minister Aiyaz Sayed-Khaiyum. [File Photo]
The move by the commercial banks to reduce the interest rates has been welcomed by the Economy Minister Aiyaz Sayed-Khaiyum.
The Minister highlighted that the reduction in the interest rate will allow Fijians to invest.
Sayed-Khaiyum says that the Fijians will be able to reap the benefits of the investment once the borders open.
The Economy Minister adds lower interest rate will lead to an increase in investment which is essential as it improves the overall wealth of the nation.
“We had been saying this for quite some time that we will eventually see some reduction in the interest rates given the level of liquidity in the market. I think the stabilization from the uncertainty that was there for the past few months, of course, reduction in interest rate is good news.”
As of 31 December, total liquidity in the banking system stood at $836.8 million.
Interest rates also trended lower in November when compared to the corresponding period in 2019.
Be In To Win A Share Of Over $100,000
Major Prize - 1 of 3 $10,000 Cash. Consolation Prize - 1 of 375 $200 Cash. Learn More
By CCAMATIL FIJI
Claim Your Money Today!
Please click here to check and inform us at [email protected] to help us settle. Check List
By LICI
Extra Weekly Specials
Don't miss out on the amazing specials on offer this week at all Extra branches. Click Here to View
By Extra Supermarket
Spend and Win Postshop Shopping Vouchers
Spend $30 or more at our Postshop or eShop and be in the draw. Shop Online Here
By Post Fiji
