Interest Rate in Serbia
Serbia - Interest Rate
National Bank of Serbia holds rates in January
On 10 January, the Executive Board of the National Bank of Serbia (NBS) voted to keep the key policy rate steady at 3.00%, where it has been since April 2018.
Low and stable inflation again led the Bank to keep the rate unchanged at its latest monetary policy meeting. Inflation remained in the lower part of the target band of 1.5%–4.5% in November, coming in at 1.9%. Price stability is expected to continue over the medium-term, with inflation moving closer towards the midpoint of the target range, supported by solid domestic demand. Moreover, the economic outlook remains robust due to a strengthening labor market, the government’s fiscal stimulus, and a pick-up in FDI.
While the NBS provided little forward guidance in its communiqué, all FocusEconomics panelists expect the Bank to continue to hold the rate at 3.00% through H2 2019. The Bank continued to stress that it would monitor external factors—namely monetary policy normalization by the Federal Reserve and the ECB, and global oil price movements—with a degree of caution.
The next monetary policy meeting is scheduled for 7 February.
Nearly all FocusEconomics Consensus Forecast panelists see the Bank raising rates once by the end of this year. Our panelists expect the key policy rate to end 2019 at 3.29% and 2020 at 3.75%.
Serbia - Interest Rate Data
|Policy Interest Rate (%)||9.50||8.00||4.50||4.00||3.50|
5 years of economic forecasts for more than 30 economic indicators.
Serbia Interest Rate Chart
Source: National Bank of Serbia
|Bond Yield||3.65||0.0 %||Jan 14|
|Exchange Rate||103.2||-0.31 %||Jan 14|
|Stock Market||1,510||-0.44 %||Jan 14|
Get a sample report showing our regional, country and commodities data and analysis.
Start Your Free Trial
Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.
January 11, 2019
According to the Statistical Office of the Republic of Serbia, consumer prices rose 0.1% over the previous month in December, following the 0.3% decrease logged in November.
January 10, 2019
On 10 January, the Executive Board of the National Bank of Serbia (NBS) voted to keep the key policy rate steady at 3.00%, where it has been since April 2018. Low and stable inflation again led the Bank to keep the rate unchanged at its latest monetary policy meeting.
January 2, 2019
According to data released by the Statistical Office of the Republic of Serbia, industrial production fell 1.0% over the same month of the previous year in November, following the 3.2% increase registered in October.
December 12, 2018
In November, consumer prices fell 0.3% over the prior month, swinging from the 0.3% increase recorded in October.
December 6, 2018
On 6 December, the Executive Board of the National Bank of Serbia (NBS) voted to keep the key policy rate steady at 3.00%, where it has now been since April. At its latest monetary policy meeting, the Bank judged its current monetary policy stance supportive of overall price stability, while also buttressing strong economic momentum.