About Civil.ge
Eng | Geo | Rus
Last updated: 10:55 - 1 May.'18
RSS
Mobile
Twitter
Facebook
Central Bank Increases Key Rate to 7%
Civil Georgia, Tbilisi / 15 Sep.'10 / 20:03

National Bank of Georgia (NBG) increased refinancing rate from 6.5% to 7% on September 15 in an attempt to curb inflation.

According to the statistic office, Geostat, Georgia’s year-to-year inflation hit a 24-month high of 9.5% by the end of August.

NBG’s monetary policy committee said after its meeting on September 15, that “high inflation” was caused by external factors, mainly attributed to price hikes on global commodity market, “for which monetary policy has limited influence.”

“Dynamics of core inflation indicates an increase of inflation expectations, therefore tightening of monetary policy is needed,” the central bank said in a statement.

NBG kept its benchmark rate unchanged at 6.5% last month. The rate was kept unchanged at 5% since late November 2009 and increased to 6.25% in June and then to 6.5% in July. 

Latest News
01 May.'18 10:55
We Have Moved to a New Platform
Direct Your Bookmarks to https://civil.ge.
29 Apr.'18 03:54
Ruling Party Candidate Wins MP By-Elections
Givi Chichinadze will represent Vani and Khoni single-mandate constituency in the Parliament of Georgia.
28 Apr.'18 09:40
Polls Open for Vani and Khoni MP By-Elections
48,123 voters are eligible to cast their ballots in Vani and Khoni single-mandate constituency.
27 Apr.'18 17:23
State Dept’s Europe Affairs Point Man to Visit Tbilisi
Wess Mitchell will meet senior government officials and address the NATO-Georgia Public Diplomacy Forum.
27 Apr.'18 13:45
In Quotes: Georgian Politicians on Ex-PM Bidzina Ivanishvili’s Comeback
Bidzina Ivanishvili will be approved as the Georgian Dream party chairman at the upcoming convention.
26 Apr.'18 18:15
SG Jens Stoltenberg: Georgia NATO’s ‘Very Close’ Partner
The NATO Secretary General says Foreign Ministers meeting tomorrow will recognize the country’s progress.
26 Apr.'18 14:24
Ex-PM Ivanishvili to Chair Georgian Dream Party
Prime Minister Giorgi Kvirikashvili said Ivanishvili was ‘best equipped’ to add new dynamism to the party.
26 Apr.'18 11:12
Lawmaker Proposes Criminal Liability for ‘Insult of Religious Feelings’
The parliamentary human rights committee decided to set up a working group for scrutinizing the draft law.
25 Apr.'18 17:21
New Abkhaz Government Head Appointed
Gennady Gagulia has served as the Abkhaz “prime minister” twice - in 1995-1997, and 2002-2003.
25 Apr.'18 14:43
Watchdog Improves Georgia’s Press Freedom Ranking
None of the countries of the former Soviet Union (except the Baltics) are ranked ahead of Georgia.

About Civil Georgia
Civil.Ge © 2001-2019, Daily News Online
Registered office: 2 Dolidze Str, 4-th Floor.
36