National Bank of Serbia

Global Slowdown Concerns Remain in Play

January 10, 2019

FOMC minutes yesterday revealed less clarity about the future path of the fed funds target. Some committee members had been hesitant to endorse December’s rate hike, the ninth of this tightening cycle, although a consensus persists that a few more increase are probable in the future. Ultimately, policy will be reactive to the data, and […] More

More Risk Aversion Lends Support to Dollar

October 8, 2018

The dollar has risen today by 0.8% against the Chinese yuan, 0.6% relative to sterling, 0.4% versus the euro, 0.3% vis-a-vis the loonie, and 0.1% against the Swiss franc and Mexican peso. Japan (Sports Day) and Canada (Thanksgiving) are observing holiday closures, but China reopened for business following a one-week observance of the Communist Revolution […] More

Declines in Kiwi, Ruble and Turkish Lira

August 9, 2018

The dollar advanced overnight by 1.6% against the New Zealand dollar, 0.9% versus the Russian ruble, and some 2.5% vis-a-vis the Turkish lira. Not only did the latest review of New Zealand monetary policy end with leaving the Official Cash Rate at 1.75%, half its level prior to the June 2015 first of 7 reductions, […] More

National Bank of Serbia

June 7, 2018

Serbia’s key interest rate has been cut twice already this year by 25 basis points each in March and April, but the latest review left the rate unchanged at 3.0%. According to a statement from the Executive Board of the central bank there, the earlier easing should help lift April’s 1.1% on-year inflation rate, and […] More

National Bank of Serbia

May 10, 2018

Serbian monetary officials already had cut their policy interest rate by 50 basis points this year via two 25-bp moves in March and April. The half-percentage point reduction this year matched the total annual declines engineered in both 2016 and 2017 and followed a combined 500 bps in 2014-15 and 275 bps in the final […] More

National Bank of Serbia

April 12, 2018

The latest in a multiyear series of cuts in Serbia’s key policy interest rate has reduced such to 3.0% from 3.25%. There was also a 25-basis point cut in the March monthly meeting and, before that, a 50-basis point cut last October. Previous rate cuts totaled 2.75 percentage points in the final eight months of […] More

National Bank of Serbia

March 14, 2018

Serbia’s central bank policy rate was sliced today to 3.25% from 3.50%. The rate previously had been reduced by 275 basis points during the final 8 months of 2013, by 150 bps in 2014, 350 bps in 2015, and 50 bps each in 2016 and 2017 but not since last October. This additional easing after […] More

National Bank of Serbia

February 8, 2018

Serbia’s policy interest rate was left at 3.5%. The last and only reduction of 2017 was implemented in October and a half percentage point in size. There had been previous cuts of  275 basis points in the final eight months of 2013, 150 bps in 2014, 350 bps in 2015 and 50 basis points in 2016. […] More

National Bank Serbia

January 11, 2018

Serbia’s central bank policy rate was lowered by 825 basis points from April 2013 though July 2016, but the executive board has implemented just a single 25-basis point cut in October 2017 to 3.5% during the subsequent year and a half. A released statement after the first policy review of 2018 notes that CPI inflation […] More

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 […] More