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. source: National Bank of Serbia

The benchmark interest rate in Serbia was last recorded at 5.75 percent. Interest Rate in Serbia averaged 7.12 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 February 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
2025-11-13 11:00 AM Interest Rate Decision 5.75% 5.75% 5.75%
2025-12-11 11:00 AM Interest Rate Decision 5.75% 5.75% 5.75%
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%
2026-03-12 11:00 AM Interest Rate Decision 5.75%
2026-04-09 10:00 AM Interest Rate Decision 5.75%


Related Last Previous Unit Reference
Deposit Interest Rate 4.50 4.50 percent Jan 2026
Foreign Exchange Reserves 29008.00 29367.00 EUR Million Dec 2025
Interest Rate 5.75 5.75 percent Jan 2026
Lending Rate 7.00 7.00 percent Dec 2025
Loans to Private Sector 1731313.00 1687222.00 RSD Million Dec 2025
Money Supply M0 429952.00 417351.00 RSD Million Dec 2025
Money Supply M1 2176988.00 2094916.00 RSD Million Dec 2025
Money Supply M2 2871503.00 2750165.00 RSD Million Dec 2025
Money Supply M3 5499124.00 5388239.00 RSD Million Dec 2025


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 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
Serbia Central Bank Keeps Interest Rate at 5.75%
The National Bank of Serbia left its benchmark interest rate unchanged at 5.75% at its final meeting of 2025. Deposit and credit facility rates were also held steady at 4.5% and 7.0%, respectively. After inflation eased to 2.9% in September and 2.8% in October, the Board expects it to hover around the 3% target through March next year and even by the end of 2026. GDP growth in Q3 remained at 2%, in line with the central bank’s expectations, driven mainly by the services and industrial sectors, while construction activity continued to contract. The Board projects economic growth of 2.1% for 2025, accelerating to 3.5% in 2026, supported by household consumption and fixed investment. The central bank emphasized that a cautious approach to monetary policy remains necessary amid global uncertainty, trade tensions, and geopolitical risks, while reaffirming its commitment to a data-driven and flexible approach aimed at maintaining financial stability and supporting growth.
2025-12-11
Serbia Holds Interest Rate at 5.75%
The National Bank of Serbia kept its benchmark rate at 5.75% in November, along with deposit (4.5%) and credit facility (7%) rates. Inflation has slowed significantly to 2.9% in September and 2.8% in October, aided by government limits on trade margins for certain goods. The Bank expects inflation to remain near the 3% target, supported by systemic laws against unfair trade practices, easing global cost pressures, and a potentially stronger agricultural season, though rising disposable incomes may counter this. GDP growth slowed to 2.0% in Q3, driven by automotive production, exports, and services, with weaker investment and consumer confidence. The Board emphasized caution due to global instability, trade tensions, and geopolitical risks, committing to data-driven, flexible policy to preserve financial stability and support growth.
2025-11-13