NBS key policy rate unchanged at 3 pct

The National Bank of Serbia (NBS) Executive Board has decided to keep the key policy rate at 3.0 pct.

11 Jan 2019 12:03

BELGRADE - The National Bank of Serbia (NBS) Executive Board has decided to keep the key policy rate at 3.0 pct.


"In making this decision, the Executive Board primarily took into account the outlook for inflation and its factors going forward, as well as the effects of past monetary policy easing.

Inflationary pressures remained low even in conditions of strong economic growth. Inflation has been low and stable for five years straight – it measured 1.9 pct y-o-y in November and, according to the Serbian Statistical Office, it averaged 2.0 pct for the whole of 2018.


In the coming period, inflation is expected to remain stable within the target tolerance band (3.0±1.5 pct), its movements mainly reflecting the steady rise in aggregate demand.


Both the financial and corporate sectors expect that the achieved price stability will be maintained in the medium term, as signalled by their inflation expectations anchored around the 3 pct midpoint for both one and two years ahead," the NBS said in a statement Thursday.

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