The central bank of Georgia raised the benchmark interest rate by 100bps to 9.5 percent on April 28th 2021. Policymakers noted that the removal of subsidies in utility bills was reflected in the upward trend in inflation, which soared to an over 9-year high of 7.2 percent in March of 2021. Overall, the National Bank of Georgia warned inflationary pressure came mainly from upside risks arising from prices in international commodity markets, which impacts oil and food prices, a weaker currency and an increase in imports. Looking ahead, the bank sees inflation ease to 6.5 percent in the current year, while the forecast for economic growth stood at 4 percent. source: National Bank of Georgia

Interest Rate in Georgia averaged 6.78 percent from 2008 until 2021, reaching an all time high of 12 percent in April of 2008 and a record low of 3.75 percent in August of 2013. This page provides the latest reported value for - Georgia Interest Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Georgia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on June of 2021.

Interest Rate in Georgia is expected to be 9.50 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 10.50 in 12 months time. In the long-term, the Georgia Interest Rate is projected to trend around 10.00 percent in 2022 and 9.50 percent in 2023, according to our econometric models.

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Georgia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
9.50 8.50 12.00 3.75 2008 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-12-09 08:00 AM 8% 8% 8%
2021-02-03 08:00 AM 8% 8% 8%
2021-03-17 08:20 AM 8.5% 8% 8%
2021-04-28 08:00 AM 9.5% 8.5% 8.5%
2021-06-23 08:00 AM 9.5% 9.5%
2021-08-04 08:00 AM
2021-09-15 08:00 AM
2021-10-27 08:00 AM


News Stream
Georgia Raises Key Rate to 9.5%
The central bank of Georgia raised the benchmark interest rate by 100bps to 9.5 percent on April 28th 2021. Policymakers noted that the removal of subsidies in utility bills was reflected in the upward trend in inflation, which soared to an over 9-year high of 7.2 percent in March of 2021. Overall, the National Bank of Georgia warned inflationary pressure came mainly from upside risks arising from prices in international commodity markets, which impacts oil and food prices, a weaker currency and an increase in imports. Looking ahead, the bank sees inflation ease to 6.5 percent in the current year, while the forecast for economic growth stood at 4 percent.
2021-04-28
Georgia Hikes Key Rate to 8.5%
The central bank of Georgia raised the benchmark interest rate by 50bps to 8.5% on March 17th 2021. Policymakers showed concerns over high inflation, noticing upside risks arising from oil and food prices, a weaker currency and reduced output amid the coronavirus pandemic. The central bank also mentioned elevated uncertainty about the recovery of the external demand. Still, the bank said there is no apparent need of additional policy tightening over the course of the year.
2021-03-17
Georgia Holds Interest Rate Steady at 8%
The central bank of Georgia left its key 7-day refinancing rate unchanged at 8% on February 3rd 2021. Policymakers noted that annual inflation receded in the last two months due to the subsidy of utility bills by the government and is of a temporary nature. As such, inflation is expected to remain at an average of 4% in 2021 and then gradually approach the target of 3%. The annual inflation rate increased to 2.8% in January of 2021 from 2.4% in the prior month, but below 3.8% in November. At the same time, aggregate demand remains subdued due to the sharp decline in external demand. Still, economic activity is seen recovering gradually in 2021 with economic growth projected around 4%, driven by domestic demand.
2021-02-03
Georgia Holds Interest Rate Steady at 8%
The central bank of Georgia left its key 7-day refinancing rate unchanged at 8 percent on December 9th 2020. Policymakers noted that annual inflation has been low in recent months and it is expected to hover close to the target level in the first half of 2021, amid still subdued demand. The economic activity is seen recovering gradually in 2021.
2020-12-09

Georgia Interest Rate
In Georgia, interest rate decisions are taken by the National Bank of Georgia. The official interest rate is the 7-day refinancing rate.