Georgia central bank orders 100bp rate increase
Worsening inflation pushes central bank to raise policy rate to 9.5%
The National Bank of Georgia increased its policy rate by 100 basis points, to 9.5%, on April 28. This is the second consecutive increase by the central bank, following a 50bp hike at its March 17 meeting.
The NBG cited high inflation in explaining its decision. The central bank said inflation was 7.2% in March 2021, well above the 3% target. he March figure was a sizable increase over the February rate of 3.6%.
The NBG’s release noted the end of a subsidy for utility prices, which had reduced
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- ECB says iPhone is currently incompatible with digital euro
- Supervisors grapple with the smaller bank dilemma
- ‘Do I die, or do I survive?’ Officials reflect on Basel III complexity