The National Bank of Georgia left its refinancing rate unchanged at 7 percent on November 12th 2018, saying uncertainty over inflation forecasts is not clear yet despite a reduction in risks from the external sector. The central bank added inflation decreased in the beginning of the year and remained below the 3 percent target. In November, annual inflation rate decreased to 1.9 percent from 2.3 percent in October. Policymakers expect inflation to remain close to the target in the medium term. Interest Rate in Georgia averaged 6.55 percent from 2008 until 2018, reaching an all time high of 12 percent in April of 2008 and a record low of 3.75 percent in August of 2013.
Interest Rate in Georgia is expected to be 7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Georgia to stand at 6.50 in 12 months time. In the long-term, the Georgia Interest Rate is projected to trend around 6.00 percent in 2020, according to our econometric models.