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Serbian gov’t to press central bank on rates, FinMin says

Serbia’s government will ask the central bank to lower interest rates and manage the dinar’s exchange rate to bolster economic growth and aid exporters, Finance Minister Mladjan Dinkic said. The government will hold talks with the central bank later this month as it tries to pull the Balkan nation out of its second recession in three years, Dinkic told reporters in Belgrade Wednesday. The National Bank of Sebia raised its one-week repurchase rate eight times in nine months between June and February by a total of 2.25 percentage points to 11.75%, to bring Europe’s second-highest inflation rate back to its target band. The increases have helped boost the dinar 5.8% against the euro since July 27, when Prime Minister Ivica Dacic’s Cabinet took office. The Cabinet will consider fiscal measures for growth and exports, which are targeted to grow 25% this year, Dinkic said.