Sep 2, 2019

Bank credit growth at 14.7% in July; interest rates on the GEL deposits up

Quick Update

  • Credit growth supported by the business and GEL lending;
  • Business credit is expected to normalize after the cyclical pick-up;
  • Household credit growth slowing down along with the lower debt service;
  • Credit growth below its long term trend at constant exchange rate;
  • The GEL deposit rates up; NBG to hike the policy rate on Wednesday; 
  • Monetary aggregates’ growth to slow as a result of expected tighter stance; 
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