Economics Department

Economics Department sits at the centre of the Bank's monetary policy work.
The targets of monetary policy, which are set by the Board of the Bank, can vary from time to time. They are recorded in the Bank's Annual Report and Corporate Plan, and mentioned occasionally in speeches given by the Governor and others.

The Economics Department is responsible for the formulation of monetary policy and policy development to maintain monetary and financial stability. The Department collects economic and financial data from both Samoa and overseas. It undertakes analysis of information it receives and makes forecasts of future developments. It also monitors Reserve Money and liquidity projections, provides commentary on key economic developments and undertakes research.

On a basis of the information and the forecasts, the Department advises the Board whether the current monetary policy targets are likely to be met at the present settings of monetary policy. If they are not, the Department will recommend a change in policy settings. This could take the form of an adjustment to interest rates or the exchange rate, or both.

The Central Bank accepts that businesses and people will make better economic decisions - about savings, investments, spending, etc - if they have access to information about the economy in Samoa and events overseas. Accordingly, the Bank believes that it is important to distribute the economic and financial information that it obtains.

As most of this information is gathered and analysed by the Economics Department is also responsible for putting together much of the material that is published by the Bank.


Last Updated: 7 Jul 2021