Price of goods may increase: RBF – FBC News
The Reserve Bank of Fiji is anticipating an increase in the price of consumer goods in the coming months.
RBF Governor Ariff Ali says this could happen is there is a shortage of consumable goods due to panic buying, and increased business costs caused by COVID-19 operating protocols.
Higher commodity and food prices internationally may also put upward pressure on consumer prices in the coming months.
Meanwhile, close to 1.7 billion dollars is being held by commercial banks as of yesterday, according to the Reserve Bank of Fiji.
Banking sector activity confirms weak consumer and business demand with a consistent drop in credit since July last year while non-performing loans have gone up.
The high liquidity level is being used to mitigate the downturn in the sector.
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