Serbia’s Fifth Straight Central Bank Interest Rate Hike

August 11, 2022

The National Bank of Serbia today agreed to raise its policy rate by 25 basis points to a 3-year high of 3.0%. The move follows four earlier consecutive increases of 50 basis in April, May  and June followed by a 25-basis point increase in July. Serbian CPI inflation climbed to a 9-year high of 11.9% in June from 3.3% in mid-2021 and is expected to crest somewhat further in the immediate future.

Depending on global geopolitical situation and the movement of key monetary and macroeconomic factors in the domestic and international environment going forward, the NBS will assess whether there is a need for additional tightening of monetary conditions. Delivering price and financial stability in the medium term remains the NBS’s monetary policy priority.

Copyright 2022, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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