Source: eKapija | Thursday, 10.12.2020.| 14:24
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Key Policy Rate Reduced to 1%

National Bank of Serbia
National Bank of Serbia (Photo: ToskanaINC/shutterstock.com)
At its meeting today, the NBS Executive Board decided to ease monetary policy further and trim the key policy rate by 25 basis points, to 1%.

– By making such decision, the Executive Board is providing additional support to the domestic economy, having in mind the scale of the pandemic-induced crisis worldwide, renewed worsening of the epidemiological situation and economic slowdown globally, and especially in Europe – it is said on the bank’s website.

After this cut, the key policy rate is by 1.25 percentage points lower than before the pandemic.

At the same time, the NBS decided to narrow the main interest rate corridor, from ±1.0 percentage point to ±0.9 percentage points relative to the key policy rate, whereby the deposit facility rate was reduced by 15 basis points, to 0.1%, and the lending facilities rate by 35 basis points, to 1.9%.

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