The National Bank of Serbia kept its key policy rate unchanged at 5.75% at its May 2026 meeting, extending the current policy stance that has been in place since late 2024. The central bank also left its deposit and lending facility rates unchanged at 4.5% and 7%, respectively. Recent geopolitical tensions and inflation trends were taken into the account. Headline inflation rose below the central target value at 2.8% in March, and inflationary pressures are expected to gradually intensify later in the year. Rising costs and weaker disposable income could weigh on household consumption and limit economic growth prospects. The economy expanded 3% in the first quarter of the year, supported by an increase in the processing industry, which boosted exports, retail trade and tourism. However, economic outlook remains clouded by global uncertainty, and policymakers will continue to pursue a prudent monetary policy while continuing to safeguard relative exchange rate stability. source: National Bank of Serbia

The benchmark interest rate in Serbia was last recorded at 5.75 percent. Interest Rate in Serbia averaged 7.10 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 May 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 5.50 percent in 2027 and 5.00 percent in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
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% 5.75%
2026-05-07 10:00 AM Interest Rate Decision 5.75% 5.75% 5.75%
2026-06-11 10:00 AM Interest Rate Decision 5.75%
2026-07-09 10:00 AM Interest Rate Decision
2026-08-13 10:00 AM Interest Rate Decision


Related Last Previous Unit Reference
Deposit Interest Rate 4.50 4.50 percent May 2026
Foreign Exchange Reserves 28486.00 29818.00 EUR Million Mar 2026
Interest Rate 5.75 5.75 percent May 2026
Lending Rate 7.00 7.00 percent May 2026
Loans to Private Sector 1753017.00 1730139.00 RSD Million Mar 2026
Money Supply M0 398650.00 410500.00 RSD Million Mar 2026
Money Supply M1 2068616.00 2058110.00 RSD Million Mar 2026
Money Supply M2 2770641.00 2738116.00 RSD Million Mar 2026
Money Supply M3 5524134.00 5491835.00 RSD Million Mar 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
Serbia Central Bank Holds Key Rate Unchanged
The National Bank of Serbia kept its key policy rate unchanged at 5.75% at its May 2026 meeting, extending the current policy stance that has been in place since late 2024. The central bank also left its deposit and lending facility rates unchanged at 4.5% and 7%, respectively. Recent geopolitical tensions and inflation trends were taken into the account. Headline inflation rose below the central target value at 2.8% in March, and inflationary pressures are expected to gradually intensify later in the year. Rising costs and weaker disposable income could weigh on household consumption and limit economic growth prospects. The economy expanded 3% in the first quarter of the year, supported by an increase in the processing industry, which boosted exports, retail trade and tourism. However, economic outlook remains clouded by global uncertainty, and policymakers will continue to pursue a prudent monetary policy while continuing to safeguard relative exchange rate stability.
2026-05-07
Central Bank Serbia Leaves Rates on Hold
The Central Bank of Serbia kept its key interest rate unchanged at 5.75% at its April 2026 meeting, a level it has maintained since late 2024. The deposit and lending facility rates were also left steady at 4.5% and 7.0%, respectively. Policymakers were primarily guided by current and expected inflation trends, as well as risks stemming from the global environment that could affect the inflation outlook. Economic authorities in Serbia continue to implement coordinated measures aimed at preserving price stability and mitigating the impact of external shocks. The government has already introduced steps to curb the rise in domestic fuel prices, including a ban on petroleum product exports and a reduction in fuel excise duties. The central bank continues to pursue a cautious monetary policy stance while maintaining relative exchange rate stability. Policymakers will continue to monitor the domestic and international markets, making future decisions on a meeting-by-meeting basis.
2026-04-09
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