Today, the National Bank of Georgia decided to keep the refinancing rate unchanged at 11%. As Papuna Lezhava, Vice-president of the National Bank of Georgia, told bm.ge, inflationary risks remain in the country, therefore it is appropriate to keep the interest rate at a tighter level.
"The National Bank of Georgia makes decisions based on inflation expectations. Today we have a rather risky situation in terms of inflation growth. The National Bank already has a rather strict monetary policy. We have said many times that it will take some time to maintain this tight monetary policy and we will have to keep the monetary policy rate at a tight level for a long time.
At the next monetary policy meeting, we will discuss if it is necessary to further tighten the refinancing rate, there is no talk of easing the rate yet. Inflation is 10.9%, when our target rate is 3%," Lezhava noted.
