President of the Association of Banks of Georgia Alexander Dzneladze does not expect easing of monetary policy. According to him, the trends necessary to lower the refinancing rate are evident, but this will most likely happen this autumn.
“There
are some signs that the National Bank to
start lowering the refinancing rate, but based on the regulator’s
recent statements, monetary policy will
not be eased in the near future. At
the same time, the trends we observe, including the decline in
inflation, give reason to believe that the refinancing rate will not increase," he says.
On February 1, 2023, the Monetary Policy Committee of the National Bank of Georgia decided to leave the monetary policy rate unchanged at 11%. The next session is scheduled for March 29th.
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