The National Bank of Serbia held its benchmark interest rate unchanged at an all-time low of 1% during its January 2022 meeting, as widely expected. Despite holding the rate constant, policy makers continued the process of tightening monetary conditions, noting a 25bps increase in the weighted average of the repo auction rate to 0.59%, 48bps higher than the start of the process in October of 2021. The headline inflation rate jumped to an eight-year high of 7.9 percent in December, well above the central bank’s target of 1.5%-4.5%, due to rising prices for energy and raw materials. However, the central bank noted that core inflation was still within the target, averaging 3% in the previous months. Accordingly, policymakers expect inflation to remain high in the Q1 2022 and gradually slow during the rest of the year. According to preliminary estimates, Serbia’s GDP grew 7.5% on the year, above expectations, while the central bank expects growth to continue around 4-5% during 2022. source: National Bank of Serbia
Interest Rate in Serbia averaged 7.60 percent from 2006 until 2022, reaching an all time high of 18 percent in October of 2006 and a record low of 1 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 January of 2022.
Interest Rate in Serbia is expected to be 1.25 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 2.50 percent in 2023, according to our econometric models.