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Fiji central bank keeps overnight policy rate unchanged

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Fiji central bank keeps overnight policy rate unchanged

The Reserve Bank of Fiji decided to keep its overnight policy rate unchanged at 0.5%.

The central bank said March 30 that domestic growth outlook remained generally positive, while domestic demand continues to be buoyant. The central bank expects global economic activity to pick up in 2017 led by emerging market and developing economies and a turnaround in key advanced economies.

Meanwhile, inflation fell to 5.5% in February from 6.8% in January due to the shortage in supply of market items following the tropical depression.