Georgia lowers base interest rate

The national Bank of Georgia cut its interest rate by 25 base points, down to 7.25 percent on October 26, Trend reports.

The National Bank of Georgia has been keeping the rate at 8 percent since February 2011. In July it was reduced to 7.75 percent and in August - to 7.5 percent.

The National Bank said that the reasons for lowering the base interest rate are stabilizing financial markets and overall economic growth.