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.