Serbia's c. bank raises key rate
Image by Bobica10 / Shutterstock.com
The National Bank of Serbia (NBS) hiked its main interest rate by 50 basis points to 2.5% on Thursday, the third straight rise in borrowing costs.
"As the NBS interest corridor remained unchanged (±100 bp, i.e. ±1 pp relative to the key policy rate), the credit facility rate equals 3.5% and the deposit facility rate 1.5%," the central bank said in a statement.
Interest rates are now at their highest level since 2019, amid the Ukraine conflict, a further spike in prices of agricultural commodities and industrial raw materials, and ongoing supply chain constraints.
The inflation in Serbia hit nine-year highs of 9.6% in April but is expected to slow in the second half of the year. Core inflation showed 5.5% in April.
Avg Gross Earnings at HUF 605,400 in February 2024
Gov't Wants Sustainable Business Model for Magyar Posta
Hungary, UAE Sign Defense Industry Agreement
Hungary Launches HUF 15 bln Tourism Sector Support Program
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
