Introduction
It has been said that “money will not manage itself ‘ and the truth of this statement has been demonstrated on countless occasions. If money is mismanaged or not managed at all, the social, political, and economic consequences can be catastrophic.
The Reserve Bank of Fiji (RBF), like all other central banks is tasked to manage money. This process of managing money is often termed as monetary policy. Like the rest of the world, the formulation of monetary policy in Fiji has undergone significant changes over the years. To a considerable extent, changes in policy formulation have been accompanied by corresponding changes in the implementation approach.