National Reserve Bank of Tonga considering short-term policy rate, IMF says
Staff encourage Tonga to reform its monetary policy framework
The National Reserve Bank of Tonga (NRBT) is considering introducing a short-term policy interest rate to guide lending and deposit rates as part of an effort to improve its monetary policy framework, the International Monetary Fund said on June 21.
Following its latest article IV consultation, IMF directors encouraged the central bank to improve its framework by introducing a policy interest rate, developing monetary and macro-prudential policy instruments, and announcing a new lower
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