National Bank of Georgia raises interest rate

The National Bank of Georgia raised the interest rate by 0.5% to 7%, Report’s Georgian bureau informs.

Bank says the annual inflation was 4.9% in August. The high inflation was caused by some factors. One of these factors is excise tax on cigarette. At the same time, nominal effective exchange rate also affected the inflation.

The National Bank of Azerbaijan said it will continue to keep control on the economic processes and financial markets and will use all possible means to provide stability in the prices.