The Monetary Policy Committee of the National Bank of Georgia has left the refinancing rate unchanged, equalling 9.0%
The committee made this decision in today's session.
As reported by the National Bank of Georgia, the economic vagueness has sharply increased due to the coronavirus pandemic and drop of prices at the world markets.
Thus, the economic growth pace will mitigate in Georgia and its trade partners as well.
''Fluctuations are severe in Georgia, and other countries of the region,'' the National Bank says, adding the devaluation of the GEL nominal efficient exchange rate will influence the inflation expectations growth.
''If a nominal efficient exchange rate shows severe pressure on the inflation, the National Bank will discuss to make its monetary policy stricter. Otherwise, if the external and domestic demands will decrease for a long time, the National Bank will launch mitigating its monetary policy,'' the bank releases a statement.
Bela Gelashvili
News Author