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.