National Bank of Serbia

Projected Euroland Growth in 2021 Revised Lower

February 11, 2021

Many Asian markets were closed today due to holiday observances. China, Taiwan, Singapore, Hong Kong, and South Korea were among the countries observing the lunar New Year, and Japan celebrated National Foundation Day. The lack of Asian market leadership confined the dollar to narrow ranges. Compared to Wednesday closing levels, the dollar is unchanged on […] More

Serbian Interest Rate Cut

December 10, 2020

The Executive Board of the National Bank of Serbia cut its interest rate by 25 basis points to 1.0% in a move that had not been anticipated by analysts. This brings the total reduction this year to 125 bps following cuts of 50 basis points last March and 25 bps cuts in April and June. […] More

No Deals and Many More Covid Cases… Also Several Central Bank Meetings

December 10, 2020

Talks last night between British Prime Minister Johnson and EU Commission President Von Der Leyden failed to achieve a trade deal. The U.S. senate grinch, Mitch McConnell, put the brakes on efforts to nail down a fiscal stimulus. U.S. Covid deaths yesterday nudged above 3k, and that pace has accelerated to 3,340 over the last […] More

Lower Bond Yields, Mixed Dollar and Softer Equities in Face of Relentless Covid

November 12, 2020

Covid cases in the last 24 hours exceeded 600k and 140k globally and in the United States. Global and U.S. deaths from the illness over the past two days averaged more than 10k and 1.45k per day. While vaccine development seems to be making good progress, a new worry is that Covid’s ability to mutate […] More

Wednesday’s Bounce in U.S. Equities Appears Shortlived

September 10, 2020

Risk aversion is back in vogue. Share prices overnight plunged 5.0% in Indonesia and fell by 0.6% in Hong Kong and China. While India and Japan saw advances, stocks in Europe are down 0.6% in the U.K., 0.5% in Switzerland, and 0.2% in France. U.S. futures are also lower. The price of WTI oil fell […] More

Dollar and European Equities Slip

August 13, 2020

The dollar slid overnight by 0.6% against sterling, 0.4% versus the euro, 0.3% relative to the loonie, and 0.1% against the Swiss franc. Equities closed higher by 1.8% in Japan, 1.3% in Singapore and 0.7% in Taiwan, but trading in Europe has seen losses so far today of 1.1% in the U.K., 0.3% in Germany […] More

Covid Risk and Political Uncertainty on the Market’s Mind

July 9, 2020

The global count of Covid-19 cases rose 216 thousand in the past 24 hours to roughly 12.2 million. In that span, there was a record 62 thousand rise in U.S. reported cases, even as President Trump threatened repercussions to school districts that do not reopen in the fall. The Covid death count stands just above […] More

Serbia’s Central Bank Rate Cut 25 Basis points Further

June 11, 2020

The National Bank of Serbia Executive Board reduced its policy interest rate to a 9-year low of 1.25% from 1.50%. This easing follows cuts of 50 basis points in March and 25 bps in April. In a statement, officials believe that April marked the worst month for its economy and cite ” an environment of […] More

Disconnection Thursday Between Recessionary Data and Buoyant Stocks

May 7, 2020

Equities were mixed in Asia but have risen more impressively in Europe this morning. There were drops of 0.8% in India, 0.7% in Hong Kong and 0.2% in China but advances of 0.6% in Taiwan, 0.3% in Japan and 0.5% in New Zealand. The British Ftse, German Dax, and Paris Cac each have risen at […] More

Rate Cut in Serbia

April 9, 2020

The National Bank of Serbia’s policy rate was sliced by 25 basis points today to 1.5%. Previous cuts were engineered of 50 basis points in March and 25 bps each in July, August and  November of 2019. “Indicators from the international environment signal that the negative effects of the virus on global economic growth are […] More

css.php