National Bank of Georgia holds rates
Move comes as inflation remains well below 3% target
The National Bank of Georgia has held interest rates as inflation in the country remains well below its 3% target level.
The bank held its key interest rate at 8% for the second consecutive time on July 30. It had cut the rate by 25 basis points following its monetary policy committee’s previous meeting in May.
The central bank predicted that inflation would remain low for the rest of the year but still gradually approach its target level and average out at 1.9% over 2024.
Inflation rose from 2% in
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