Monetary Policy Stance for September 2024 | Central Bank of Solomon Islands

Press Release : 09/2024 – Monetary Policy Stance for September 2024

At its monetary policy meeting held on 29^th August 2024, the Board of the Central Bank of Solomon Islands (CBSI) has adopted an accommodative monetary policy stance for the next six months. Inflation has eased and is expected to remain low within the Bank’s desirable range. This should induce increase in economic activity in the short to medium term.

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Key Statistics

Inflation
(May, 2024)	3.6%
GDP 2022 Actual (Source: SINSO)	Constant Price: 2012
Real GDP	SBD$ 10,894.6m
Nominal GDP	SBD$ 12,774.5m
Real GDP Growth	2.4%
Foreign Reserves
(August 14, 2024)	SBD $5,637m
Interest Rates (June, 2024)
Deposit Rate	0.46%
Lending Rate	8.23%
Money Supply
(August 14, 2024)	SBD $5,875m