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Serbia Interest Rate Unchanged for 9th Month

Analysis

Image by Bobica10 / Shutterstock.com

The National Bank of Serbia maintained its benchmark interest rate at 6.5% for the ninth consecutive month in April, meeting market expectations and following a total of 550 basis points hikes in 2022-2023.

The deposit and lending rates were also held steady at 5.25% and 7.75%, respectively. The caution in the policy approach was dictated by elevated global inflationary pressures and present uncertainty in the international environment. I

n Serbia, inflation continued to ease to 5.6% in February, below the regulator's forecasts.

It is anticipated to reach the target range in May and the target itself by the end of the year. 

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