Category: Media

Press Release: CBSI Releases 2019 Financial Stability Report

CBSI Releases 2019 Financial Stability Report  The Central Bank of Solomon Islands, have just released the fourth edition of its Financial Stability Report (FSR) for the year 2019 as pursuant to section 31(4) of the CBSI Act 2012. The FSR report provides insights into the performances of the country’s financial system as well as the vulnerabilities and risks faced by the financial sectors in Solomon Islands. It also highlights the policy responses CBSI undertook across 2019 to maintain stability in the financial system. Governor Dr.Luke Forau officially released the FSR report today at the CBSI Board room with an official statement. Witnessing the event was the Deputy Governor, Raynold Moveni, Chief Manager for Financial System & Regulations Department (FSRD) Daniel Haridi and FSRD staff. Download PR Download...

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Governors Statement – 2019 Financial Stability Report Released

Governors Statement -2019 Financial Stability Report Released. Dr. Luke Forau Governor Central Bank of Solomon Islands Launching of the 2019 Financial Stability Report Honiara – 7th July, 2020 Download PDF Press Conference Statement On the Release of 2019 Financial Stability   CBSI Board Room 30 June 2020 11.00am   Introduction I am pleased to announce the release of the Central Bank of Solomon Islands (CBSI) Financial Stability Report for 2019. This edition is the fourth FSR Report to be released by CBSI. It is released pursuant to section 31(4) of the CBSI Act 2012. In this edition, the report provides insights into the performances as well as vulnerabilities and risks faced by the financial sector in Solomon Islands. It then goes to outline policy responses that CBSI had undertaken across 2019 to maintain stability in the financial system. International Developments Before elaborating further on the above, let me first of all briefly look at developments in the global market, as these developments have had impact on the domestic financial sector. Some changes have occurred since the CBSI released its 2018 FSR. In 2019, the global economy slowed down, with a growth rate of 2.9% compared to 3.9% growth in 2018. Despite the slowed growth, banks are capable to endure economic recession experienced in the global economy. Across Asia, China and Japan had implemented some control measures to mitigate risks...

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Overview of CBSI functions & Operations: CBSI as Currency Authority

Overview of the Banks Functions & Operations: CBSI as Currency Authority  CBSI Media Article No. : 05/2020 A central bank cannot achieve its multiple objectives without the support of other government policy measures or what is commonly called Fiscal Policy.  Economic activity, which is a measure of the total expenditures of households, businesses and government for consumption and investment, is influenced by both monetary and fiscal policies and must work in tandem.  A policy action taken by a central bank or government to achieve a particular objective may conflict with another stated objective, hence underscoring the need for consultation on and synchronization of policy objectives, targets and instruments. In this article we introduce the 4 main policy instruments CBSI is equipped with, to effectively influence the factors of which affect the money stock, focusing more on the first policy, Central Bank as Currency Authority. ...

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Know Your Central Bank: CBSI Vision, Mission & Values

Know Your Central Bank – CBSI Mission, Vision & Values By CBSI Media  Article No. : 04/2020 In our last two articles, we look at the History of the Central Bank of Solomon Islands (CBSI) and the roles and responsibilities of CBSI as the premier institution of the country. This month we will continue to educate and inform you on the Mission, Vision and Values of the Central Bank of Solomon Islands.  ...

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Press Release: CBSI eases Cash Reserves Requirement

CBSI eases Cash Reserve Requirement  The Central Bank of Solomon Islands (CBSI) has made changes to the Cash Reserves Requirement (CRR) as part of its responses to the Coronavirus-19 (Covid-19) pandemic. Effective Monday 15th June 2020, the CRR has been eased from 7.5% to 5%....

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Key Statistics

Inflation
(May, 2020) 7.2%
GDP (2017)
Actual (source: SINSO)
Constant 2012 prices
Real GDP
SBD$ 10,547m
Nominal GDP
SBD$ 11,703m
Real GDP Growth5.3%
Foreign Reserves
(July 08, 2020)SBD $5,469m
Interest Rates
(March, 2020)
Deposit Rate0.49%
Lending Rate11.56%
Money Supply
(July 08, 2020)SBD $5,056m

Exchange Rates

per
SBD
Today
15/07/2020
Last Week
08/07/2020
USD0.12080.1207
GBP0.09630.0961
EUR
0.10600.1070
AUD0.17330.1734
NZD
0.18480.1841
JPY12.954912.9816
SDR0.08710.0873
CNY0.8474 0.8473
Index110.0111.0

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