NBG has reduced refinancing rate - up to 200,000 borrowers will have less monthly contributions to the banks

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25 November 2024, 20:57

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NBG has reduced refinancing rate - up to 200,000 borrowers will have less monthly contributions to the banks

21-12-2023 08:01

The National Bank of Georgia [NBG] has reduced refinancing rate. It means that up to 200,000 borrowers will have less monthly contributions to the banks

According to the Acting President of the NBG, “considering the inflation rate and existing forecasts, the reduction of the monetary policy rate will continue with very careful steps”.

“The primary responsibility of the bank is to guarantee the stability of the interest rate. That’s why the current economic processes, financial markets, environmental factors, and inflation forecasts are being observed in great detail”, - added Natia Turnava.

Yesterday, December 14, the Monetary Policy Committee of the National Bank decided to reduce the monetary policy rate (refinancing rate) by 0.5%. Monetary Policy Rate stands at 9.5%.

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