National Bank of Georgia may tighten monetary policy

Business Materials 8 July 2019 18:34 (UTC +04:00)

The National Bank of Georgia does not yet see the need to use reserves, since at this stage such intervention may have a negative impact on the national currency rate in long term, Trend reports with reference to apsny.ge.

The fluctuations of the lari exchange rate over the past period were caused by expectations that there might be a decrease in the number of tourists, said Archil Mestvirishvili, vice president of the National Bank of Georgia.

According to him, a meeting of the Monetary Policy Committee will take place on July 24, and the National Bank will decide on the need to tighten or soften the monetary policy in line with the current situation.

“If we see the risk of rising prices in the future, then naturally we will tighten monetary policy. If we see the opposite trend for the future, then we will soften monetary policy, ” Archil Mestvirishvili noted.