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Serbia's c-bank cuts key repo rate to 2.75%

Author Radomir Ralev
Serbia's c-bank cuts key repo rate to 2.75% By NMedjedov (Own work), via Wikimedia Commons

BELGRADE (Serbia), July 11 (SeeNews) - Serbia's central bank, NBS, said on Thursday it will cut its key repo rate to 2.75% from 3.0%.

The inflation rate is expected to remain in the 1.5%-4.5% target band, NBS said in a statement.

The central bank cut the key repo rate by 0.25 of a percentage point to 3.25% in March 2018 and to 3.0% in April 2018 to help guide inflation to the target band.

Serbia's average annual consumer price inflation slowed to 2.2% in May, from 3.1% in April, according to the latest official data available. On a monthly comparison basis, Serbia's consumer price index (CPI) decreased by 0.3% in May, after rising by 0.7% in April.

The NBS will hold its next rate-setting meeting on August 8.

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