The central bank of Georgia slashed its key monetary policy by 50 bps to 8.5% on April 29th 2020, in an attempt to support the economy amid the Covid-19 pandemic crisis. Policymakers expect inflation rate to remain high for several months, before falling back towards its target level in the first half of 2021, given the expected decline in global demand. In addition, the economy is projected to contract 4 percent.

Interest Rate in Georgia averaged 6.68 percent from 2008 until 2020, 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 May of 2020.

Interest Rate in Georgia is expected to be 8.50 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 8.50 in 12 months time. In the long-term, the Georgia Interest Rate is projected to trend around 6.00 percent in 2021, according to our econometric models.

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Georgia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
8.50 8.50 12.00 3.75 2008 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2019-12-11 08:00 AM 9% 8.5% 9%
2020-01-29 08:00 AM 9% 9% 8.75%
2020-03-18 09:00 AM 9% 9% 9%
2020-04-29 08:00 AM 8.5% 9% 9%
2020-06-24 08:00 AM 8.5% 8.5%
2020-08-05 08:00 AM 8.5%
2020-09-16 08:00 AM 8.5%
2020-10-28 08:00 AM 8.5%


News Stream
Georgia Cuts Key Interest Rate to 8.5%
The central bank of Georgia slashed its key monetary policy by 50 bps to 8.5% on April 29th 2020, in an attempt to support the economy amid the Covid-19 pandemic crisis. Policymakers expect inflation rate to remain high for several months, before falling back towards its target level in the first half of 2021, given the expected decline in global demand. In addition, the economy is projected to contract 4 percent.
2020-04-29
Georgia Leaves Monetary Policy Unchanged
The central bank of Georgia left its key monetary policy rate steady at 9 percent on March 18th 2020. Policymakers said that inflation was expected to decline over the remainder of the year and would gradually return to the target level. However, amid the coronavirus pandemic and the sharp drop in oil prices on world commodity markets, economic uncertainty has increased significantly globally. It is expected that economic growth rate will slow down, and that it is impossible to make accurate estimates based on current data.
2020-03-18
Georgia Holds Interest Rate Steady at 9%
The National Bank of Georgia left its refinancing rate unchanged at 9 percent on January 29th 2020, saying the nominal effective exchange rate strengthened slightly but the nominal effective exchange rate remained at an impaired level. The central bank added that that monetary policy will remain tight for longer amid inflationary pressures. Policymakers expect inflation to start declining from the beginning of the year and to reach the 3 percent target by the end of the year.
2020-01-29
Georgia Hikes Interest Rate to 9%
The National Bank of Georgia raised its refinancing rate by 50bps to 9 percent on December 11th 2019. It follows a 100bps hike in the previous meeting in an attempt to neutralise inflationary pressures due to exchange rate depreciation. Policymakers noted that annual inflation rose to 7.0 percent, its highest since June 2016, and it is expected to start declining from next March and near the 3-percent target by the end of 2020. The central bank reinforced that monetary policy tightening will continue until the pressure on the exchange rate is eliminated.
2019-12-11

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.