Referential interest rate to remain unchanged - 15.75%

Radovan Jelašić

- After taking economic trends in consideration, Monetary Board has decided today (June 12, 2008) to keep the referential interst rate at the same level of 15.75% - National Bank of Serbia announced.

The next meeting of the Monetary Board will be held on June 30.

Monetary Board increased the referential interest rate from 15.25% to 15.75% on May 29th in order to keep the basic inflation within projected limits - between 3 and 6%.

Monetary Board increased the referential interest rate on two occasions in February - from 10 to 10.75%, and then to 11.5%. In mid-March, the referential interest rate was increased from 11.5 to 14.5%. In April, referential interest rate was raised by 0.75%, to 15.25%.