Refinancing Rate Cut by 50 Basis Points in Georgia

April 15, 2009

The National Bank of Georgia implemented its seventh rate cut since mid-August.  Those in August, September, November, December and February were by 100 basis points apiece.  Today’s, like the prior cut on March 18th, had a size of 50 basis points and left the refinancing rate at 6.0%, half of its mid-summer level.  Monetary officials released a statement that stressed an improving inflation backdrop, a forecast of sub-target inflation, weak economic growth, and lessening downward pressure on the exchange rate.

Copyright 2009 Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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