Georgia reduces refinancing rate to 4.5%

The Georgian National Bank has reduced the refinancing rate by 0.25% to 4.5%. Inflation is expected to be below the target value throughout 2013 and will reach it in the second half of 2014.

The new inflation forecasts were inspired by reduction of prices for food and electricity.

The next session of the committee for monetary policy of the National Bank will be held on May 8, 2013.

Adapted from Vestnik Kavkaza