The central bank of Serbia held its key policy rate steady at a record low of 1% on February 11th 2021, as expected, saying previously taken monetary and fiscal policy measures in order to mitigate the negative consequences of the pandemic and stimulate economic growth will continue to have a favorable effect. Serbia's annual inflation rate dropped to 1.3% in December and according to the bank's projections, it will continue to move closer to the lower half of the target 1.5%-4.5%. source: National Bank of Serbia

Interest Rate in Serbia averaged 8.02 percent from 2006 until 2021, reaching an all time high of 18 percent in October of 2006 and a record low of 1 percent in December 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 March of 2021.

Interest Rate in Serbia is expected to be 1.00 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 1.50 percent in 2022, according to our econometric models.

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Serbia Interest Rate

Actual Previous Highest Lowest Dates Unit Frequency
1.00 1.00 18.00 1.00 2006 - 2021 percent Daily


Calendar GMT Actual Previous Consensus TEForecast
2020-11-12 11:00 AM 1.25% 1.25% 1.25% 1.25%
2020-12-10 11:00 AM 1% 1.25% 1.25% 1.25%
2021-01-14 11:00 AM 1% 1% 1% 1%
2021-02-11 11:00 AM 1% 1% 1% 1%
2021-03-11 11:00 AM 1% 1%
2021-04-13 10:00 AM 1%
2021-05-13 10:00 AM 1%
2021-06-10 10:00 AM 1%


News Stream
Serbia Holds Interest Rate at 1%
The central bank of Serbia held its key policy rate steady at a record low of 1% on February 11th 2021, as expected, saying previously taken monetary and fiscal policy measures in order to mitigate the negative consequences of the pandemic and stimulate economic growth will continue to have a favorable effect. Serbia's annual inflation rate dropped to 1.3% in December and according to the bank's projections, it will continue to move closer to the lower half of the target 1.5%-4.5%.
2021-02-11
Serbia Holds Key Interest Rate at Record Low of 1%
The central bank of Serbia held its key policy rate steady at a record low of 1% on January 14th 2020, as expected after a surprise 25bps cut in the previous meeting to counter the adverse economic effects of the coronavirus outbreak. The annual inflation slowed to 1.3% in December, the lowest since May and below the central bank’s target 1.5%-4.5%. Policymakers expect inflation to move at the lower part of the target band in the coming period.
2021-01-14
Serbia Unexpectedly Lowers Interest Rate to Record Low of 1%
The central bank of Serbia cut its benchmark interest rate by 25bps to 1 percent on December 10th 2020, surprising markets that were expecting it to be left on hold. It is the first-rate cut since a 25bps cut in June, bringing borrowing costs to a record low level.
2020-12-10
Serbia Holds Key Interest Rate at 1.25% with Additional Support for Dinar Liquidity
The National Bank of Serbia held its key policy rate steady at a record low of 1.25% on November 12th 2020, as widely expected, saying previously taken monetary and fiscal policy measures in order to mitigate the negative consequences of the pandemic and stimulate economic growth will continue to have a favorable effect. According to the bank's projections, inflation will continue to move closer to the lower limit of the target, and it will gradually approach the central value of 3%, indicating that in the coming period there is room for additional measures of monetary relaxation. Meantime, policymakers decided to act economically proactively and preventively in the environment of the aggravated health situation again, providing the possibility of using additional cheap dinar liquidity. Banks will have two lines at their disposal to provide dinar liquidity - through additional swap auctions for the purchase of foreign currency and repo auctions for the purchase of securities.
2020-11-12

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.