Georgia expects refinancing rate to rise

By Trend

The refinancing rate in Georgia is predicted to increase in March 2022, the Managing Director of Galt & Taggart investment bank Otar Sharikadze said, Trend reports via Georgian media.

According to Sharikadze, the National Bank of Georgia (NBG) will increase the refinancing rate by 1-1.5 percent at the next meeting of the Monetary Policy Committee of the NBG scheduled for the end of March.

Consequently, the refinancing rate in Georgia will reach 11.5-12 percent.

As the Managing Director of Galt & Taggart forecasts, the NBG will start easing the refinancing rate by the end of the current year.

Meanwhile, the monetary policy rate in Georgia increased by 0.5 percent to 10.5 percent on December 8, 2021. The Monetary Policy Committee of the NBG kept the refinancing rate unchanged on February 2, 2022.

"The NBG is among few central banks that are publicly announcing the expected monetary policy trajectory," the President of the NBG Koba Gvenetadze said.