National Bank of Serbia

May 17, 2016

Serbia’s central bank executive board left its main interest rate at 4.25%.  There’s been just one change this year, a 25-basis point cut in February, but seven 50-basis point reductions were implemented last year.  Serbia is one of many economies with inflation (0.4% in April) significantly below target (2.5-5.5%) but a likelihood of a rising trend over the balance of the year.  A statement explaining today’s action also highlights “persistent uncertainties in the international commodity and financial markets [that]warrant caution in running monetary policy.”  April is expected to mark the low point of on-year inflation.

Copyright 2016, Larry Greenberg.  All rights reserved.  No secondary distribution without express permission.

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