At today’s meeting, the NBS Executive Board voted to keep the key policy rate on hold, at 3.5%.
As the NBS announced, in making such decision, the Executive Board had in mind the expected movement in inflation and its factors in the coming period, and the expected effects of past monetary policy easing.
As assessed by the Serbian Statistical Office, in December 2017 inflation measured 3% year-on-year, i.e. the target midpoint. Inflation expectations of the financial and corporate sectors are anchored within the target tolerance band.
The NBS Executive Board expects inflation to continue to move within the target tolerance band of 3.0±1.5%.
It is added that, in the first half of this year, inflation is likely to move below the target midpoint, reflecting the low base for prices of petroleum products and other products which recorded one-off hikes in early 2017. The expected rise in domestic demand will work in the opposite direction.
The next rate-setting meeting will be held on February 8, 2018.
Follow the news, tenders, grants, legal regulations and reports on our portal.
Register for our daily business bulletin, which is sent to your email address at the end of each work day.
Full information is available only to commercial users-subscribers and it is necessary to log in.
Test for free!
Full information is available to commercial users-subscribers only.