Georgia, Tbilisi, July 18 / Trend, N.Kirtskhalia /
The Monetary Policy Committee (MPC) of the National Bank of Georgia (NBG) decided to keep its main policy rate (the refinancing rate) unchanged at 5.75 percent.
According to the existing forecasts, the inflation is expected to continue moderate growth and will achieve its target value in the second half of the next year, the National Bank of Georgia told Trend on Wednesday.
The annual inflation in June equaled 0.2 percent.
The economic activity indicators point at a high growth in the first half of the year, although the output gap is still close to zero, meaning that there are no risks of overheating and demand side inflationary pressure.
Given that the inflation is predicted to achieve the target in the medium term and that the GDP is at its potential value the National Bank of Georgia decided to keep the monetary policy rate unchanged.
The next meeting of the Monetary Policy Committee will be held on Aug.29, 2012.