The central bank of Georgia left its key 7-day refinancing rate unchanged at 8 percent on October 28th 2020, saying inflation remains in line with expectations. Annual inflation continued to decline for the 4th month to 3.8 percent in September and the central bank sees inflation close to the target level of 3 percent in 2021. The central bank last cut the key rate by 25bps in August. source: National Bank of Georgia

Interest Rate in Georgia averaged 6.72 percent from 2008 until 2020, reaching an all time high of 12 percent in April of 2008 and a record low of 3.75 percent in August of 2013. This page provides the latest reported value for - Georgia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Georgia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on December of 2020.

Interest Rate in Georgia is expected to be 8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Georgia to stand at 7.50 in 12 months time. In the long-term, the Georgia Interest Rate is projected to trend around 7.50 percent in 2021 and 6.00 percent in 2022, according to our econometric models.

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Georgia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.00 8.00 12.00 3.75 2008 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-06-24 09:00 AM 8.25% 8.5% 8.5%
2020-08-05 07:15 AM 8% 8.25% 8.0%
2020-09-16 08:00 AM 8% 8% 7.75%
2020-10-28 08:05 AM 8% 8% 7.5%
2020-12-09 08:00 AM 8% 8%


News Stream
Georgia Keeps Key Rate Steady
The central bank of Georgia left its key 7-day refinancing rate unchanged at 8 percent on October 28th 2020, saying inflation remains in line with expectations. Annual inflation continued to decline for the 4th month to 3.8 percent in September and the central bank sees inflation close to the target level of 3 percent in 2021. The central bank last cut the key rate by 25bps in August.
2020-10-28
Georgia Leaves Monetary Policy Unchanged
The central bank of Georgia left its key monetary policy rate unchanged at 8 percent on September 16th 2020. Policymakers said that the downward trend of inflation will continue to the rest of the year to then fall below target level in the first half of 2021. The Committee noted that the aggregate demand is positively affected by a considerable fiscal stimulus, including a partial subsidy of interest expense on mortgage loans. Policymakers added that the gradual exit from the tightened monetary policy will continue in the future and its pace will depend on inflation expectations and the dynamics of economic activity.
2020-09-16
Georgia Cuts Key Rate by 25bps
The central bank of Georgia slashed its key monetary policy rate by 25bps to 8% on August 5th 2020, bringing borrowing costs to its lowest since September of 2019 and following a 25bps cut in the previous meeting in an attempt to support the economy amid the Covid-19 pandemic crisis. In July, the annual inflation rate fell to 5.7%, the lowest since August of 2019 but well above the central bank's target of 3%.
2020-08-05
Georgia Cuts Key Interest Rate to 8.25%
The central bank of Georgia slashed its key monetary policy rate by 25bps to 8.25% on June 24th of 2020, bringing borrowing costs to its lowest since September of 2019 and following a 50bps cut in the previous meeting in an attempt to support the economy amid the Covid-19 pandemic crisis. In May, the annual inflation rate fell to 6.5% from 6.9% in the prior month, and the National Bank expects it to continue to fall during the rest of the year until it reaches the 3% target level in the first half of 2021. Policymakers pledged to use all the tools at its disposal to ensure price stability.
2020-06-24

Georgia Interest Rate
In Georgia, interest rate decisions are taken by the National Bank of Georgia. The official interest rate is the 7-day refinancing rate.