The National Bank of Georgia decided to keep the refinancing rate unchanged.
Aleksandre Dzneladze, President of the Banking Association of Georgia, noted that the current 8% rate is already quite strict.
“Despite the inflation rate rising to 5.2%, mainly due to primary consumer goods, there is no clear prerequisite for an additional tightening of monetary policy at this stage,” he said.
Dzneladze emphasized that inflation remains within the forecasts made at the beginning of the year.
“The predicted range was 4.5% to 5.5%, and inflation has not sharply exceeded these indicators. Considering this and the period of relatively low inflation earlier in the year, keeping the rate unchanged is reasonable,” he added.
To note, the Monetary Policy Committee left the refinancing rate at 8% during its November 5 meeting, marking the thirteenth time it has remained unchanged since May 22, 2024.
