The central bank of Georgia raised the benchmark interest rate by 50bps to 8.5% on March 17th 2021. Policymakers showed concerns over high inflation, noticing upside risks arising from oil and food prices, a weaker currency and reduced output amid the coronavirus pandemic. The central bank also mentioned elevated uncertainty about the recovery of the external demand. Still, the bank said there is no apparent need of additional policy tightening over the course of the year. source: National Bank of Georgia
Interest Rate in Georgia averaged 6.77 percent from 2008 until 2021, 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 April of 2021.
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 8.75 percent in 2022 and 9.50 percent in 2023, according to our econometric models.