TBILISI, Feb 12 (Reuters) - Georgia’s central bank on Wednesday raised its key refinancing rate to 4.00 percent from 3.75 percent, in spite of data showing annual inflation below the government’s 2014 target.
The central bank had kept the refinancing rate unchanged in December, October and September after five cuts between February and July last year.
Consumer prices rose 2.9 percent year-on-year in January after a growth of 2.4 percent year-on-year in December. In month-on-month terms, consumer prices rose 0.8 percent last month.
The government targets 2014 inflation in the former Soviet South Caucasus republic at 4.0 percent. (Reporting by Margarita Antidze, editing by Gabriela Baczynska)