National Bank of Georgia Cuts Rate 25bps to 7.25%

The National Bank of Georgia cut its benchmark refinancing interest rate by 25 basis points to 7.25% from 7.50%. The Bank said: "The annual inflation rate dropped below the target level of the NBG in September and is expected to decrease further at the beginning of the next year. According to the existing forecasts, the inflation forecast in 2012 will remain below the target level.