Translation. Region: Russian Federation –
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
Tbilisi, March 25 /Xinhua/ — The Monetary Policy Committee of the National Bank of Georgia kept the interest rate (refinancing rate) at 8 percent, the National Bank of Georgia (Central Bank) reported on Wednesday.
According to the regulator, the escalating geopolitical situation in the Middle East and disruptions to shipping through the Strait of Hormuz have led to temporary disruptions to supply chains. "Given current macroeconomic conditions and the balance of risks, the decision has been made to keep the interest rate unchanged," the regulator said in a statement.
The Central Bank's statement stated that these processes have already caused an increase in energy and transport prices on international markets, and that if this trend continues, the risks of accelerating global inflation will increase.
As noted in the report, before the geopolitical situation worsened, inflation in the country developed in accordance with the baseline scenario and was expected to decline to the target level of 3 percent from the second quarter of 2026. In February, inflation amounted to 4.6 percent.
According to the National Bank, in the short term, inflation will be higher than the projected level, while in the medium term, the dynamics will depend on the duration and scale of global inflation processes, which are characterized by high uncertainty. –0–
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