National Bank of Georgia has brought discount rate up to 10%


August 4, Fineko/abc.az. The Monetary Policy Committee of the National Bank of Georgia at a meeting on Wednesday decided to raise the refinancing rate by 50 basis points up to 10% per annum, ABC.AZ reports with reference to the Committee.

In the last period the inflation has become a global challenge and the July price growth indicators in many countries exceeded forecasts. In Georgia, annual inflation for July was unexpectedly high - 11.9%.

"The NBG forecasts a decrease of inflation in 2022 and gradual approach to the medium-term target of 3%. The processes in the economy and financial markets are constantly monitored and all possible tools will be used to ensure price stability, " the Committee said.