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Georgia’s National Bank lowers interest rate

by | Apr 26, 2012

TBILISI, DFWatch – The National Bank of Georgia Wednesday decided to lower the main refinancing rate by a quarter point to 6.25%.

Lowering the rate now is an indication that the bank has an optimistic view of the country’s economy. In a statement, the bank notes that the economic activity in the first quarter of 2012 was marked by indicators pointing towards high growth.

Prices fell in March; the annual price change was -2.2%, but although the bank expects inflation to remain low this year, it believes it will reach its target value of 6% by the beginning of 2013.

Next meeting of the bank’s Monetary Policy Committee is May 23.

 



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