The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on June 22nd, 2022. source: National Bank of Georgia

Interest Rate in Georgia averaged 7.02 percent from 2008 until 2022, 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 2022.

Interest Rate in Georgia is expected to be 11.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Georgia Interest Rate is projected to trend around 10.00 percent in 2023 and 9.50 percent in 2024, according to our econometric models.

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Georgia Interest Rate

Calendar GMT Actual Previous Consensus TEForecast
2022-03-30 08:00 AM 11% 10.5% 10.5%
2022-05-11 08:00 AM 11% 11% 11.5%
2022-06-22 09:30 AM 11% 11% 11%
2022-08-03 08:00 AM 11% 11%
2022-09-14 08:00 AM
2022-10-26 08:00 AM

Related Last Previous Unit Reference
Interest Rate 11.00 11.00 percent Jun 2022
Money Supply M0 3544951.92 3478470.67 GEL Thousands Apr 2022
Foreign Exchange Reserves 3372207.93 3346278.49 USD Thousand May 2022
Money Supply M3 33296991.20 33125602.40 GEL Thousands Apr 2022
Money Supply M2 15945920.46 15882448.65 GEL Thousands Apr 2022
Money Supply M1 10718151.55 10704105.80 GEL Thousands Apr 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
11.00 11.00 12.00 3.75 2008 - 2022 percent Daily

News Stream
Georgia Holds Interest Rate Steady at 11%
The central bank of Georgia left the benchmark interest rate unchanged at 11 percent on May 11th, 2022. Policymakers noted that inflation remains a significant global challenge as Russia’s invasion of Ukraine led to imposition of new sanctions and in turn restrictions on supplies of food and fuels. However, the recent strengthening of the lari has helped to slow down inflation in imported goods. Also, total productivity has recovery dynamics, which means that there is no significant pressure on inflation from the labour market at this stage. Looking forward, the committee said inflation is expected to remain above the target during the year before taking a downward trend, while the GDP is projected at 4.5% in 2022.
Georgia Raises Key Rate by 50 Bps
The National Bank of Georgia raised its benchmark interest rate by 50 bps to 11 percent on March 30th, the highest since August of 2008, arguing that inflation has been above target for a long period of time and even stronger inflationary risks. The committee said inflation was expected to begin its moderation path in March, but the scope of the downward momentum would be limited due to the shock in global oil prices, sanctions against Russia, supply disruptions due to the war in Ukraine, and inflation expectations. Looking ahead, GDP should rise 3-4%, compared to prior forecasts of 5%. Finally, the central bank will continue tightening monetary policy until rising inflation expectations are sufficiently mitigated.
Georgia Hikes Interest Rate to 10.5%
The National Bank of Georgia hiked the benchmark interest rate by 50 bps to 10.5 percent on December 8th, 2021, the highest level since August of 2008, citing the need to avoid the spillover of high inflation rates to long-run inflation expectations. Policymakers noted that the high inflationary global environment remained a cause for concern and that exogenous factors accounted for 9pp of November’s 12.5 percent annual inflation rate. Despite the relative appreciation of the lari on a yearly basis, imported inflation stood at 18 percent that month. The central bank said that strong aggregate demand underpinned the sharp rebound in GDP in Q2 but, coupled with strong supply shocks, also hindered the goal to reduce inflation. In the short-run, inflation is expected to increase in the coming months due to the aforementioned factors and start declining by next year’s spring.