Tbilisi, Georgia, Sept. 25
By Nana Kirtzkhalia - Trend:
The Monetary Policy Committee of the Georgian National Bank decided to leave the refinancing rate unchanged on September 24. The monetary policy rate is 4.0 percent.
The Monetary Policy Committee thinks that there is the need to maintain a soft monetary policy on the basis of the analysis of the economic situation and geopolitical factors, the Georgian National Bank told Trend.
According to the committee's estimates, the country will gradually abandon a soft monetary policy. Its pace will depend on the dynamics of inflation and economic activity.
According to the current projections, the inflation will reach a target level by the first half of 2015.
If there are no new shocks affecting the economy, the main policy rate will be closer to the neutral level and will be 6 percent at the end of 2015.
Another meeting of the Monetary Policy Committee will be held on November 19, 2014.