The National Bank of Serbia lowered its key policy rate by 25bps to 1.25 percent on June 11th 2020, bringing borrowing rates to the lowest since at least 2006. Markets were expecting no changes. It is the second rate cut so far this year, aiming to mitigate the negative effects of the coronavirus crisis and boost economic growth. Policymakers said the strongest impact of the crisis was felt in April, like in other European countries, and that the economy should recover in the coming months. The inflation is expected to remain around 1.5 percent in 2020 due to lower demand and oil prices.

Interest Rate in Serbia averaged 8.35 percent from 2006 until 2020, reaching an all time high of 18 percent in October of 2006 and a record low of 1.25 percent in June of 2020. This page provides - Serbia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia Interest Rate - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: National Bank of Serbia

Interest Rate in Serbia is expected to be 1.25 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Interest Rate in Serbia to stand at 1.00 in 12 months time. In the long-term, the Serbia Interest Rate is projected to trend around 1.25 percent in 2021 and 1.75 percent in 2022, according to our econometric models.

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Serbia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.25 1.50 18.00 1.25 2006 - 2020 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-03-11 04:00 PM 1.75% 2.25% 2.25% 2.25%
2020-04-09 10:00 AM 1.5% 1.75% 1.75% 1.75%
2020-05-07 10:00 AM 1.5% 1.5% 1.5%
2020-06-11 10:00 AM 1.25% 1.5% 1.5% 1.5%
2020-07-09 10:00 AM 1.25% 1.25% 1.25%
2020-08-13 10:00 AM 1%
2020-09-10 10:00 AM 1%
2020-10-08 10:00 AM 1%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Serbia Lowers Key Rate to 1.25%
The National Bank of Serbia lowered its key policy rate by 25bps to 1.25 percent on June 11th 2020, bringing borrowing rates to the lowest since at least 2006. Markets were expecting no changes. It is the second rate cut so far this year, aiming to mitigate the negative effects of the coronavirus crisis and boost economic growth. Policymakers said the strongest impact of the crisis was felt in April, like in other European countries, and that the economy should recover in the coming months. The inflation is expected to remain around 1.5 percent in 2020 due to lower demand and oil prices.
2020-06-11
Serbia Keeps Monetary Policy Unchanged
The central bank of Serbia left its key policy rate steady at 1.5 percent on May 7th of 2020, following a 25bps cut in the previous meeting and a 50bps cut in the March meeting to mitigate the negative effects of the spread of the coronavirus. In March, the annual inflation rate fell to 1.3 percent, and policymakers expect it to be around the lower limit of the 3±1.5 percent target in the rest of the year and gradually approach the target in the medium-term.
2020-05-07
Serbia Cuts Interest Rate to 1.5%
The National Bank of Serbia slashed its benchmark interest rate by 50bps to 1.5 percent on April 9th of 2020, surprising markets who expected no changes. It follows a cut by a similar margin last month and brings borrowing costs to fresh record lows to support the coronavirus-hit economy while at the same time maintain inflation within the 3±1.5 percent target.
2020-04-09
Serbia Cuts Rates on Coronavirus Fears
The National Bank of Serbia slashed its benchmark interest rate by 50bps to 1.75 percent on Wednesday, a day ahead of a scheduled meeting, with policymakers voicing concerns about the coronavirus outbreak. The bank said economic growth prospects remain favorable and inflationary pressures are low, but increased uncertainty poses a risk to global outlook. Officials also pledged to use all available instruments in the future to prevent the negative effects of the spread of the virus on the economy.
2020-03-11

Serbia Interest Rate
In Serbia, interest rate decisions are taken by the Executive Board of the National Bank of Serbia. The official interest rate is the key policy rate.