Georgian National Bank reduces refinancing rate

The Georgian National Bank reduced the refinancing rate by 25 base points to 7.5% on August 17, compared with 7.75% in July. The rate was 8% in February, Business Georgia reports.

The Georgian Statistics Service registered a dramatic drop in inflation. Annual inflation dropped to 8.5% in July, compared with 10% in June. Basic inflation was 0.03% in July.