The National Bank of Serbia lowered its key policy rate by 25bps to a record-low of 2.5 percent at its August 8th 2019 meeting, surprising markets who expected no changes. The move follows an unexpected 25bps cut in the previous meeting. In July, annual inflation rate fell to a fourteen-month low of 1.5 percent from 2.2. percent in June, the lower end of the central bank’s 1.5% to 4.5% target range. Over the next two years, policymakers expect inflation to continue to move within the target, most likely at the lower end. Interest Rate in Serbia averaged 8.76 percent from 2006 until 2019, reaching an all time high of 18 percent in October of 2006 and a record low of 2.50 percent in August of 2019.

Interest Rate in Serbia is expected to be 2.50 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 2.50 in 12 months time. In the long-term, the Serbia Interest Rate is projected to trend around 3.00 percent in 2020, according to our econometric models.

Serbia Interest Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-05-09 10:00 AM Interest Rate Decision 3% 3% 3% 3%
2019-06-06 10:00 AM Interest Rate Decision 3% 3% 3% 3%
2019-07-11 10:00 AM Interest Rate Decision 2.75% 3% 3% 3%
2019-08-08 10:00 AM Interest Rate Decision 2.5% 2.75% 2.75% 2.75%
2019-09-12 10:00 AM Interest Rate Decision 2.5% 2.5%
2019-10-10 10:00 AM Interest Rate Decision 2.5%
2019-11-07 11:00 AM Interest Rate Decision 2.5%


Serbia Money Last Previous Highest Lowest Unit
Interest Rate 2.50 2.75 18.00 2.50 percent [+]
Interbank Rate 2.03 2.03 19.18 2.03 percent [+]
Money Supply M0 185045.00 186143.00 186143.00 16056.00 RSD Million [+]
Foreign Exchange Reserves 12758.40 12146.10 12758.40 2682.00 EUR Million [+]
Deposit Interest Rate 1.50 1.75 15.25 1.50 percent [+]
Lending Rate 4.25 4.25 25.26 4.25 percent [+]
Loans To Private Sector 1105959.00 1097662.00 1152545.00 187458.00 SRB Million [+]
Money Supply M1 777282.00 773513.00 792319.00 43647.00 RSD Million [+]
Money Supply M2 1039298.00 1031002.00 1039298.00 52024.00 RSD Million [+]
Money Supply M3 2642257.00 2609109.00 2642257.00 86158.00 RSD Million [+]


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. This page provides - Serbia Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia Interest Rate - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
2.50 2.75 18.00 2.50 2006 - 2019 percent Daily




Country Last Previous
Argentina 74.98 Aug/19
Turkey 19.75 Jul/19
Mexico 8.00 Aug/19
Russia 7.25 Jul/19
South Africa 6.50 Aug/19
Brazil 6.00 Jul/19
Indonesia 5.50 Aug/19
India 5.40 Aug/19
China 4.25 Aug/19
Saudi Arabia 2.75 Aug/19
United States 2.25 Jul/19
Singapore 1.94 Jul/19
Canada 1.75 Aug/19
South Korea 1.50 Jul/19
Australia 1.00 Aug/19
United Kingdom 0.75 Aug/19
Euro Area 0.00 Jul/19
France 0.00 Jul/19
Germany 0.00 Jul/19
Italy 0.00 Jul/19
Netherlands 0.00 Jul/19
Spain 0.00 Jul/19
Japan -0.10 Aug/19
Switzerland -0.75 Aug/19


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