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Georgian central bank maintains policy rate

The National Bank of Georgia decided to keep the refinancing rate unchanged at 7.25%.

Inflation has been on a downward trend since the start of the year, falling to 2.7% in February. The central bank projects that inflation will remain close to its target level of 3% throughout the year.

The economy expanded by 4.4% year over year in January. The central bank said the country's economy will attain a relatively high level of growth similar to 2017, thus narrowing the output gap.