Georgia holds rates at 11%

The National Bank of Georgia on Wednesday 19 March kept rates on hold, after hiking by a full percentage point last month.

Economic activity was strong in spite of the central bank raising rates to 11% and was likely to remain so.

The central bank said that inflation rose to 10.9% in the year to February and that price growth remained quite high in Georgia's main export partners on the back of food and energy inflation.

However, the current rate of interest would ensure that inflation would f