BAKU, Azerbaijan, Feb. 1
By Maryana Akhmedova – Trend:
Georgia’s Galt & Taggart investment bank forecasts that the National Bank of Georgia (NBG) will leave the monetary policy rate unchanged, economist at Galt & Taggart Lasha Kavtaradze said, Trend reports via Georgian media.
“Raising the rate in December and lowering it now is not a smart decision. Inflation rate in Georgia is still high and will remain high through February 2022,” the economist said.
According to the NBG, inflation rate in Georgia is expected to decrease in March 2022.
Meanwhile, the Monetary Policy Committee of the NBG decided to increase the monetary policy rate by 0.5 percentage points to 10.5 percent on December 8, 2021.
“The situation caused by the COVID-19 pandemic has created many problems in the world economy, among which is high inflation environment. Therefore, the increased inflation for Georgia remains one of the main challenges,” the statement of the NBG said.
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