Over the past few months, we have had quite a low inflation rate, which gives us an opportunity to continue easing monetary policy with cautious, moderate steps,” said Acting President of the National Bank of Georgia (NBG) Natia Turnava.
According to Turnava, the policy aimed at reducing inflation was correct and effective.
“Statistics of recent months show that the policy aimed at reducing inflation was correct and effective. By this policy, I mean both the tightening of the NBG monetary policy and the anti-inflationary policy of the government, including fiscal consolidation and measures aimed at stimulating competition. In the last few months, we have had a fairly low inflation rate, well below our inflation target of three per cent.
This gives us a splendid opportunity to continue easing monetary policy with cautious, moderate paces. In particular, easing the monetary rate. Along with everything, this step provides an opportunity to ease financial conditions in the country, as well as an opportunity to improve conditions for people who took out a loan and need Georgian Lari resources, and to reduce interest on loans in national currency,” said Natia Turnava.