The National Bank of Georgia raised its refinancing rate by 50bps to 9 percent on December 11th 2019. It follows a 100bps hike in the previous meeting in an attempt to neutralise inflationary pressures due to exchange rate depreciation. Policymakers noted that annual inflation rose to 7.0 percent, its highest since June 2016, and it is expected to start declining from next March and near the 3-percent target by the end of 2020. The central bank reinforced that monetary policy tightening will continue until the pressure on the exchange rate is eliminated.
Interest Rate in Georgia averaged 6.60 percent from 2008 until 2019, 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.
Interest Rate in Georgia is expected to be 9.00 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 8.25 in 12 months time. In the long-term, the Georgia Interest Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.