Georgian National Bank keeps refinancing rate unchanged

The Georgian National Bank decided to keep the refinancing rate unchanged at 7.5% on September 14, Trend reports.

The indicator of consumer prices increased by 1.1%, compared with July. Annual inflation dropped by 7.2% to 5.2%.

Food and transport inflation (basic inflation) was 0.1% in August. Experts say inflation will continue to fall in the coming months.

Economic activity has been rising lately. The reduction of rates was not fully reflected in economic activity. The committee for monetary policy decided to keep the base interest rate unchanged.

The committee will hold its next session on October 26, 2011.