Georgia central bank orders 50bp hike

Central bank raises policy rate to 10.5% as inflation continues rising

National Bank of Georgia
National Bank of Georgia
Photo: NBG

The National Bank of Georgia increased the policy rate by 50 basis points on December 8, bringing the policy rate to 10.5%.

The central bank has now raised the policy rate four times this year, though this is the first increase since August. The central bank has raised rates a total of 250bp over the course of 2021.

In its press release, the NBG said year-on-year inflation stood at 12.5% in November. The central bank said inflation was “mainly driven by temporary exogenous factors” and had

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