Central Bank Serbia Leaves Rates on Hold

2026-04-09 10:53 By Joana Taborda 1 min. read

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.



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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
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