Serbia’s central bank holds key repo rate at 6.5%

Serbia’s central bank, NBS, said on Thursday it decided to keep its key repo rate unchanged at 6.5%.

The central bank also left unchanged the deposit facility rate and the lending facility rate at 5.25% and 7.75%, respectively, it said in a statement.

In making this decision, the central bank said it was guided by conditions of gradual weakening of cost pressures from the international environment, which should contribute to a more significant drop in imported inflation.

It is now necessary to see the full effects of the previously implemented measures before further tightening of monetary policy, NBS added.

The latest data published by the national statistical office showed that Serbia’s consumer prices slowed to 13.7% year-on-year in June, after easing to 14.8% the month before.

Source: SeeNews, Momentum

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