National Bank of Serbia

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

National Bank of Serbia

May 17, 2016

Serbia’s central bank executive board left its main interest rate at 4.25%.  There’s been just one change this year, a 25-basis point cut in February, but seven 50-basis point reductions were implemented last year.  Serbia is one of many economies with inflation (0.4% in April) significantly below target (2.5-5.5%) but a likelihood of a rising […] More

National Bank of Serbia

April 7, 2016

The statement released by the central bank executive board after it left the 4.25% key interest rate as is for a second straight time makes the same points mentioned in the prior statement.  The “cautious” current policy stance is projected to promote gradual economic recovery and a moderate return of inflation, which should return to […] More

National Bank of Serbia

March 17, 2016

Serbia’s key monetary policy interest rate was left unchanged in March.  Last year saw seven 50-basis point reductions between March and October, and an eighth cut, this time of 25 basis points, was enacted in February of 2016.  Inflation lies above target, but a released statement today predicts a downtrend coming that will return inflation […] More

National Bank of Serbia

January 12, 2016

Beginning last March, Serbia’s key monetary policy interest rate was reduced after 7 of 8 consecutive monthly Executive Board meetings.  The exception was July’s meeting, and the cumulative decline lowered the rate to 4.5% from 8.0%.  As in November and December, officials declined to change their policy at the first meeting of 2016, so such […] More

National Bank of Serbia

December 10, 2015

In seven of the eight monthly meetings between March and October this year, the Executive Board voted to cut Serbia’s central bank interest rate by 50 basis points.  There were no policy changes at the meetings in January, February, July, November or, most recently, December.  The rate is now 3.50% versus 8.0% at the beginning […] More