The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on October 26th, 2022, saying inflation retreated from its peak but it is still high and amounted to 11.5 percent in September. The central bank noted that inflation will remain high until the end of the year, but will continue to gradually decline and will approach the target level in the second half of 2023. Because of the existing inflationary risks, tight monetary policy will be maintained and its normalization will gradually begin only after a clear trend of decreasing inflation will be observed. Policymakers also added that further tightening of policy or maintaining the current tight stance for a longer period may become necessary if inflation expectations rise further and/or additional demand pressures on prices arise. source: National Bank of Georgia

Interest Rate in Georgia averaged 7.16 percent from 2008 until 2022, 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 2022.

Interest Rate in Georgia is expected to be 11.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Georgia Interest Rate is projected to trend around 10.00 percent in 2023 and 9.50 percent in 2024, according to our econometric models.

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Georgia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-08-03 08:00 AM 11% 11% 11%
2022-09-14 08:00 AM 11% 11% 11%
2022-10-26 08:00 AM 11% 11% 11%
2022-12-21 08:00 AM 11%
2023-02-01 08:00 AM
2023-03-29 08:00 AM


Related Last Previous Unit Reference
Interest Rate 11.00 11.00 percent Oct 2022
Money Supply M0 3835017.40 3775567.00 GEL Thousands Oct 2022
Money Supply M3 35275451.89 33640322.00 GEL Thousands Oct 2022
Money Supply M2 17513423.45 15790003.47 GEL Thousands Oct 2022
Money Supply M1 11833904.25 11862981.80 GEL Thousands Oct 2022
Foreign Exchange Reserves 3922612.87 3853531.16 USD Thousand Oct 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
11.00 11.00 12.00 3.75 2008 - 2022 percent Daily

News Stream
Georgia Holds Interest Rate Steady at 11%
The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on October 26th, 2022, saying inflation retreated from its peak but it is still high and amounted to 11.5 percent in September. The central bank noted that inflation will remain high until the end of the year, but will continue to gradually decline and will approach the target level in the second half of 2023. Because of the existing inflationary risks, tight monetary policy will be maintained and its normalization will gradually begin only after a clear trend of decreasing inflation will be observed. Policymakers also added that further tightening of policy or maintaining the current tight stance for a longer period may become necessary if inflation expectations rise further and/or additional demand pressures on prices arise.
2022-10-26
Georgia Keeps Interest Rate Steady at 11%
The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on September 14th, 2022, saying headline inflation maintained its downward trajectory and reached 10.9 percent in August. Inflation will tend to decline further both this and next year and other things equal will gradually approach the target level from the middle of 2023, policymakers added. Still, future trends largely depend on geopolitical outlook. Therefore, monetary policy will remain tight until upward risks to inflation expectations are sufficiently mitigated. Should inflation expectations rise further and/or demand-side pressures on prices exacerbate, further tightening of policy or maintaining the current tight stance for a longer time period might become necessary.
2022-09-14
Georgia Holds Interest Rate Steady at 11%
The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on August 3rd, 2022. Policymakers noted that inflation remains a significant global challenge as supply-side disruption stemming from the Russia-Ukraine war has significantly raised global prices on food, energy, and other commodities. The annual inflation rate in Georgia slowed to 11.5 percent in July of 2022, from 12.5 percent in the previous month. However, the central bank noted that inflation remained well above its target despite the recent slowdown. On a more positive outlook, economic activity remains robust, driven mainly by the record level of remittances, tourism recovery, and solid credit activity.
2022-08-03