Papua New Guinea raises rates for first time since 2011

PNG notes and coins
Bin im Garten

The Bank of Papua New Guinea raised its policy rate by 25 basis points, to 3.25%, the first change in the benchmark rate since April 2020. The central bank last increased the rate in September 2011.

In its press statement, the central bank pointed to “a significant increase” in headline inflation which rose 6.9% year-on-year in the first quarter of 2022.

The central bank also tightened lenders’ reserve requirements, from 7% to 8%. The board said there was still enough liquidity in the banking

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: