The National Bank of Serbia left its key policy rate steady at a record low of 2.5 percent at its October 10th 2019 meeting, as widely expected. Policymakers said that monetary policy prudence is still needed, mostly due to developments in the international environment. The Committee added that the resilience of the domestic economy to possible negative impacts from the international environment increased due to the reduced internal and external imbalances, favorable macroeconomic outlook, and foreign exchange reserves. Policymakers noted that the annual inflation fell to 1.3 percent in August from 1.6 percent in July, due to a further decline of fruit and vegetable prices due to the new agricultural season. The Committee said that the inflation rate will be under control in the future, as in previous years, and added that the economy is expected to grow 3.5 percent this year, driven by domestic demand. Interest Rate in Serbia averaged 8.68 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
2019-07-11 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% 2.5% 2.5%
2019-10-10 10:00 AM Interest Rate Decision 2.5% 2.5% 2.5% 2.5%
2019-11-07 11:00 AM Interest Rate Decision 2.5% 2.5%
2019-12-12 11:00 AM Interest Rate Decision 2.5%


Serbia Money Last Previous Highest Lowest Unit
Interest Rate 2.50 2.50 18.00 2.50 percent [+]
Interbank Rate 1.99 1.99 19.18 1.97 percent [+]
Money Supply M0 188873.00 185045.00 188873.00 16056.00 RSD Million [+]
Foreign Exchange Reserves 13295.40 13099.90 13295.40 2682.00 EUR Million [+]
Deposit Interest Rate 1.25 1.25 15.25 1.25 percent [+]
Lending Rate 3.75 4.00 25.26 3.75 percent [+]
Loans To Private Sector 1118704.00 1105959.00 1152545.00 187458.00 SRB Million [+]
Money Supply M1 811843.00 777282.00 811843.00 43647.00 RSD Million [+]
Money Supply M2 1076461.00 1039298.00 1076461.00 52024.00 RSD Million [+]
Money Supply M3 2678819.00 2642257.00 2678819.00 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 October of 2019.

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




Country Last Previous
Argentina 68.00 Oct/19
Turkey 16.50 Sep/19
Mexico 7.75 Sep/19
Russia 7.00 Sep/19
South Africa 6.50 Sep/19
Brazil 5.50 Sep/19
Indonesia 5.25 Sep/19
India 5.15 Oct/19
China 4.20 Oct/19
Saudi Arabia 2.50 Sep/19
United States 2.00 Sep/19
Canada 1.75 Sep/19
Singapore 1.72 Sep/19
South Korea 1.25 Oct/19
Australia 0.75 Oct/19
United Kingdom 0.75 Sep/19
Euro Area 0.00 Sep/19
France 0.00 Sep/19
Germany 0.00 Sep/19
Italy 0.00 Sep/19
Netherlands 0.00 Sep/19
Spain 0.00 Sep/19
Japan -0.10 Sep/19
Switzerland -0.75 Sep/19


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