National Bank of Serbia

Market Spotlight on Turkey and Spain

October 9, 2017

On a day when holiday closures in the United States (Columbus Day), Japan (Health Sports Day), Canada (Thanksgiving), and South Korea (Hanguil Day) ordinarily might be expected to sap the market of leadership and thus depress volatility, there have been big movements affecting Turkey and Spain. A diplomatic dispute between Turkey and the United States […] More

National Bank of Serbia

August 10, 2017

The second of two 25-basis point interest rate cuts in 2016 was implemented in July of that year and left the rate level at its current 4.0%. Reductions had been made earlier totaling 350 basis points in 2015, 150 bps in 2014 and 275 basis points from April 2013 through the end of that year […] More

National Bank of Serbia

July 10, 2017

Starting in April of 2013, the Executive Board of the NSB cut Serbia’s policy interest rate by a total of 825 basis points from 12.25% to 4.0%. The reductions included 350 basis points in 2015 and, most recently, a pair a 25-bp cuts in February and July of 2016. A statement released today after the […] More

National Bank of Serbia

June 8, 2017

Serbia’s central bank policy interest rate was cut 775 basis points in 2013-15 and by an additional 25 basis points to 4.0% in July 2016 where such continues to remain after the latest review by officials. A statement from the Executive Board projects in-target inflation (3.0% give or take 1.5 percentage points) during the next […] More

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, ┬áSerbian 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