June 24, 2020 / 9:17 AM / 11 days ago

Georgia's c.bank says cuts refinancing rate to 8.25% from 8.50%

TBILISI, June 24 (Reuters) - Georgia’s central bank cut its key refinancing rate on Wednesday to 8.25% from 8.50%.

The central bank had kept the rate unchanged at 9% at meetings in January and March, but cut it to 8.5% in April.

Consumer prices in Georgia rose 0.2% month on month in May after rising 0.9% in April. Annual inflation in May was 6.5%, up from 4.7% in May 2019 and down from 6.9% in April this year.

The central bank will hold its next meeting on rates on August 5. (Reporting by Margarita Antidze; Editing by Catherine Evans)

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