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Serbia holds key policy rate at record low

Banking

The National Bank of Serbia (NBS) said on Thursday it decided to hold its key repo rate at 1%, according to a report by news agency Tanjug.

In making this decision, the central bank was guided by the previously taken monetary policy measures which are expected to continue having a positive economic effect, it said in a statement.

Policymakers expect a recovery in economic activity in the coming months due to the progress in the vaccination process and the expected gradual easing of restrictive measures.

The inflation rate is expected to move at the lower part of the 1.5%-4.5% target band and remain stable, due to the relative stability of the dinar exchange rate. Uncertainties on the global monetary markets stem largely from the rise of oil prices, which is now reaching the levels before the pandemic, the NBS noted.

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