National Bank of Serbia

National Bank of Serbia

April 11, 2017

After leaving their key interest rate unchanged at 4.0%, the level since a cut of 25 bps last July,  Serbian monetary officials released a statement that again stressed their expectation that inflation will remain inside the 3.0 +/- 1.5% target range. Core inflation has been lower than headline inflation, printing at just 1.7% in February. […] More

National Bank of Serbia

March 14, 2017

Serbian monetary officials retained a 4.0% key interest rate, observing that inflation is hovering near 3.0%, the mid-point of its 1.5-4.5% target range and expected to remain with that corridor. There was a single 25-basis point cut last year in July. Starting in April 2013, the rate was slashed by 275 basis points by yearend, […] More

National Bank of Serbia

February 14, 2017

Similar to January’s Executive Board meeting, Serbian monetary officials agreed to leave they central bank interest rate at 4.0%, the level since a 25-basis point reduction seven months ago. There also was a 25-bp cut a year ago, 350 basis points of easing during 2015, 250 bps of easing in 2014 and 275 bps worth […] More

National Bank of Serbia Retains 4.0% Interest Rate

January 12, 2017

From an April 2013 high of 12.25%, the Serbian central bank interest rate was reduced 275 basis points later that year, 150 bps in 2014, 350 bps in 2015, and by 25 bps each in February and July of last year. A statement following today’s decision to keep the rate at 4.0% projects low, stable […] More

National Bank of Serbia

December 8, 2016

Serbia’s key monetary policy interest rate was left at 4.0%, its level since a 25-basis point reduction in July. A statement released by the National Bank of Serbia reiterated several factors mentioned after the prior meeting last month for why inflation is likely to firm into the 1.5-4.5% target range by early 2017. But in […] More

National Bank of Serbia

November 10, 2016

Serbia’s key central bank policy rate had been at 12.25% as recently as April 2013 but was slashed by 275 basis points over the remainder of 2013, 150 basis points during 2014, 350 bps last year, and this year by 25 basis points in both February and July. The resulting 4.0% level has not been […] More

National Bank of Serbia’s Key Interest Rate Left at 4.0%

October 13, 2016

Serbian inflation continues to run below the 2-4% inflation target band, but officials expect a rise above the target floor by the middle of next year according to a short statement released after the latest monetary policy meeting. The current 4.0% central bank rate is only half as high as its level at the start of […] More

National Bank of Serbia Keeps Policy Settings Unchanged

September 8, 2016

Serbia’s central bank interest rate had earlier this year been cut by 25 basis points in both February and July, and it now is at 4.0%. It was previously reduced by 50 basis points on seven occasions in 2015 from 8% prior to March of that year. Following the latest executive board meeting, a statement […] More

National Bank of Serbia

July 7, 2016

Serbia’s central bank policy interest rate was cut to 4.0% today from 4.25%, where such had been since a similar-sized cut in February.  The rate was previously reduced by 3.5 percentage points in seven moves during 2015.  A statement released by monetary officials today stressed that expected inflation has been falling and that lower inflation […] More

National Bank of Serbia

June 9, 2016

Serbia’s policy interest rate had been at 8% just 15 months ago.  Seven 50-basis point reductions over the balance of 2015 were topped off with a 25-basis point cut this past February to the current level of 4.25%.  That rate was retained at today’s June monthly meeting, and a released statement  again justifies no need for […] More