The National Bank of Serbia left its key policy rate unchanged at 5.75% at its March 2026 meeting, while also keeping the deposit facility rate at 4.5% and the lending facility rate at 7%. The decision was in line with both current and expected inflation developments, as well as domestic and global factors influencing price dynamics. The central bank expects inflation to remain within its target tolerance band of 3% ± 1.5 percentage points through the end of 2026 and over the medium term. However, policymakers noted that the sharp increase in international crude oil prices is likely to be reflected in higher domestic petroleum product prices. Monetary policy decisions will continue to be made on a meeting-by-meeting basis, taking into account incoming data, the outlook for inflation, as well as an assessment of the effects of previously implemented policy measures. source: National Bank of Serbia

The benchmark interest rate in Serbia was last recorded at 5.75 percent. Interest Rate in Serbia averaged 7.11 percent from 2006 until 2026, reaching an all time high of 18.00 percent in October of 2006 and a record low of 1.00 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 2026.

The benchmark interest rate in Serbia was last recorded at 5.75 percent. Interest Rate in Serbia is expected to be 5.75 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 2027 and 3.50 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-01-12 11:00 AM Interest Rate Decision 5.75% 5.75% 5.75%
2026-02-12 11:00 AM Interest Rate Decision 5.75% 5.75% 5.75%
2026-03-12 11:00 AM Interest Rate Decision 5.75% 5.75% 5.75%
2026-04-09 10:00 AM Interest Rate Decision 5.75% 5.75%
2026-05-07 10:00 AM Interest Rate Decision 5.75%
2026-06-11 10:00 AM Interest Rate Decision 5.5%


Related Last Previous Unit Reference
Deposit Interest Rate 4.50 4.50 percent Feb 2026
Foreign Exchange Reserves 29397.00 29008.00 EUR Million Jan 2026
Interest Rate 5.75 5.75 percent Mar 2026
Lending Rate 7.00 7.00 percent Feb 2026
Loans to Private Sector 1723573.00 1731313.00 RSD Million Jan 2026
Money Supply M0 408649.00 429952.00 RSD Million Jan 2026
Money Supply M1 2056339.00 2176988.00 RSD Million Jan 2026
Money Supply M2 2735771.00 2871503.00 RSD Million Jan 2026
Money Supply M3 5448843.00 5499124.00 RSD Million Jan 2026


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
5.75 5.75 18.00 1.00 2006 - 2026 percent Daily

News Stream
Central Bank of Serbia Leaves Rates Steady
The National Bank of Serbia left its key policy rate unchanged at 5.75% at its March 2026 meeting, while also keeping the deposit facility rate at 4.5% and the lending facility rate at 7%. The decision was in line with both current and expected inflation developments, as well as domestic and global factors influencing price dynamics. The central bank expects inflation to remain within its target tolerance band of 3% ± 1.5 percentage points through the end of 2026 and over the medium term. However, policymakers noted that the sharp increase in international crude oil prices is likely to be reflected in higher domestic petroleum product prices. Monetary policy decisions will continue to be made on a meeting-by-meeting basis, taking into account incoming data, the outlook for inflation, as well as an assessment of the effects of previously implemented policy measures.
2026-03-12
Serbia Central Bank Keeps Key Rate at 5.75%
The National Bank of Serbia held its benchmark interest rate steady at 5.75% at its February 2026 meeting, alongside the deposit rate (4.5%) and the credit facility rate (7%). Inflation continued to move slightly below the central bank’s target during the final quarter of 2025, falling to 2.7% in December, and is expected to stay within the target range of 3% (±1.5%) through the end of 2026 and over the medium term. The Board anticipates economic growth to accelerate this year and next, supported by both household consumption and investment in fixed assets. Net exports are also expected to contribute positively in 2027, buoyed by the hosting of the specialized exhibition “Expo.” The central bank stressed that a cautious monetary policy stance remains necessary amid global uncertainty, stemming from trade and geopolitical tensions, while reaffirming its commitment to a data-driven and flexible approach aimed at maintaining financial stability and supporting growth.
2026-02-12
Serbia Central Bank Holds Key Rate at 5.75%
The National Bank of Serbia left its benchmark interest rate unchanged at 5.75% at its first policy meeting of 2026, with deposit and lending facility rates also steady at 4.5% and 7.0%, respectively. Inflation stabilized slightly below the central target of 3% (±1.5%) by the end of 2025 and is expected to remain near the target in the short term. The domestic economy grew moderately last year, with real GDP rising 2%, supported by robust activity in the services and industrial sectors, particularly automotive. Looking ahead, GDP growth is expected to accelerate in 2026, underpinned by consumption, fixed asset investment, and the “Leap into the Future – Serbia Expo 2027” initiative. The central bank will maintain a cautious monetary policy amid global uncertainty and geopolitical tensions, aiming to support growth, exports, and financial stability.
2026-01-12