The National Bank of Serbia raised its reference rate by 50bps to 3.5% in its September 2022 meeting, the sixth straight hike and above expectations of a 25bps hike, and stated it will later assess the need for further tightening depending on the global geopolitical situation. Policymakers noted that soaring energy imports stemmed about 70% of the contribution to Serbian inflation in July, which rose to 12.8% on the year. Amid higher borrowing costs, the Executive Board forecasted inflation to peak in the current quarter and start its path downwards in Q4 of this year, while growth should continue to slow until 2023. source: National Bank of Serbia

Interest Rate in Serbia averaged 7.38 percent from 2006 until 2022, 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 September of 2022.

Interest Rate in Serbia is expected to be 3.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Serbia Interest Rate is projected to trend around 4.00 percent in 2023 and 3.75 percent in 2024, according to our econometric models.

Ok
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.

Please Paste this Code in your Website
width
height
Serbia Interest Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-07-07 10:00 AM 2.75% 2.5% 3% 3%
2022-08-11 10:00 AM 3% 2.75% 3% 3%
2022-09-08 10:00 AM 3.5% 3% 3.25%
2022-10-11 10:00 AM 3.5% 4%
2022-11-10 10:00 AM
2022-12-08 10:00 AM


Related Last Previous Unit Reference
Interest Rate 3.50 3.00 percent Sep 2022
Interbank Rate 3.38 3.38 percent Sep 2022
Money Supply M0 275206.00 283363.00 RSD Million Aug 2022
Foreign Exchange Reserves 15875.60 15022.80 EUR Million Aug 2022
Deposit Interest Rate 2.00 1.75 percent Sep 2022
Lending Rate 4.50 4.00 percent Sep 2022
Money Supply M3 3815332.00 3756514.00 RSD Million Aug 2022
Money Supply M2 1668757.00 1635925.00 RSD Million Aug 2022
Money Supply M1 1295960.00 1281603.00 RSD Million Aug 2022
Loans to Private Sector 1411012.00 1409055.00 RSD Million Aug 2022

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.
Actual Previous Highest Lowest Dates Unit Frequency
3.50 3.00 18.00 1.00 2006 - 2022 percent Daily

News Stream
Serbia Hikes Rate by 50bps
The National Bank of Serbia raised its reference rate by 50bps to 3.5% in its September 2022 meeting, the sixth straight hike and above expectations of a 25bps hike, and stated it will later assess the need for further tightening depending on the global geopolitical situation. Policymakers noted that soaring energy imports stemmed about 70% of the contribution to Serbian inflation in July, which rose to 12.8% on the year. Amid higher borrowing costs, the Executive Board forecasted inflation to peak in the current quarter and start its path downwards in Q4 of this year, while growth should continue to slow until 2023.
2022-09-08
Serbia Hikes Key Rate As Expected
Serbia’s National Bank hiked its main interest rate by 25bps to 3% during its August 2022 meeting, the fifth straight rise in borrowing costs, in line with market expectations. Interest rates are at their highest level since July 2019, as the inflation in Serbia hits a nine-year high, reaching 11.9% in June, well above market expectations of 10.9%. Policymakers said that is necessary to continue tightening domestic monetary conditions and expect the consumer price index to lose some pace, and return to the target range, “by the end of the projection period”.
2022-08-11
Serbia Hikes Key Rate by Less than Expected
The National Bank of Serbia hiked its main interest rate by 25bps to 2.75% during its July 2022 meeting, the fourth straight rise in borrowing costs, and compared to market forecasts for a 50bps increase. Interest rates are now at their highest level since July 2019, as the inflation in Serbia continued to rise to hit a fresh nine-year high of 10.4% in May, well above market expectations of 9.9%. Policymakers expect the consumer price index to begin slowing pace in July and return to the target range in the second half of 2023.
2022-07-07