National Bank of Serbia

December 7, 2017

Serbia’s central bank executive board decided not to change its key policy rate which has been at 3.5% for the past two months. Such had been cut 275 basis points in the final eight months of 2013, 150 bps in 2014, 350 bps in 2015 and 50 basis points in 2016. This year’s only change was a 25-basis point reduction in October. A released statement paints a more favorable economic outlook including waning supply-side growth impediments, notes that measures of expected inflation are withing the 1.5-4.5% target corridor, and observes that actual CPI inflation of 2.8% and core inflation of 1.4% are below the target mid-point. GDP in the year to 3Q17 grew 2.1%.

Copyright 2017, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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