National Bank of Georgia keeps refinancing rate unchanged
Georgia, Tbilisi, March 29 / Trend, N.Kirtskhalia /
The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) decided to keep its refinancing rate unchanged at 6.5 percent. This decision was made against a background of decline of inflation rate in Georgia in February to -2.1 percent.
The National Bank of Georgia forecasts that inflation will remain low in the first half of the year.
Annual inflation rate equals to 1.9 percent in February. The Georgian economy grew by 7 percent in 2011
Starting in June the inflation will start growing, the National Bank of Georgia said.
The Monetary Policy Committee also mentions a declining trend in the money market interest rates.
Taking this into account the Monetary Policy Committee ruled against further policy easing on this stage and decided to keep the policy rate unchanged.