January 31, 2018 / 10:22 AM / a year ago

UPDATE 1-Georgia's c.bank keeps key refinancing rate unchanged at 7.25 pct

(Adds detail, central bank’s statement)

TBILISI, Jan 31 (Reuters) - Georgia’s central bank kept its key interest rate unchanged at 7.25 percent on Wednesday, citing forecasts suggesting that annual inflation would decline and get back to the bank’s 4 percent target this year.

Consumer prices rose 6.7 percent in annual terms in December, overshooting the bank’s targeted level of 4 percent, and inched 0.8 percent higher in month-on-month terms.

“According to current forecast, annual inflation will decline in the first months of 2018 and will get closer to the targeted level (of 4 percent) this year,” the central bank said in a statement.

The bank is due to hold its next policy meeting on March 14. (Reporting by Margarita Antidze; editing by Angus MacSwan)

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