50 Basis Point Hike to 10% the National Bank of Georgia’s Policy Interest Rate

August 4, 2021

Officials at the National Bank of Georgia authorized this year’s third refinancing rate hike, this time by 50 basis points to 10.0%. There had also been increases of 50 bps in March and 100 bps in April. Tighter monetary policy has been necessitated by a spike in inflation to 11.9%, which is way above the medium-term target of 3%.

Copyright 2021, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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