April 12 (SeeNews) - Serbia's central bank, NBS, said on Thursday it decided to cut its key repo rate to 3.0% from 3.25%.
The inflation rate is expected to gradually approach the middle of the 1.5%-4.5% target band in the next two years, NBS said in a statement.
Serbia's average annual consumer price inflation slowed to 1.4% in March from 1.5% in February, the Serbian statistical institute said on Thursday. On a monthly comparison basis, Serbia's consumer price index (CPI) rose by 0.1% in March, after growing by 0.3% in February.
The central bank cut the key repo rate by 0.25 of a percentage point to 3.75% in September, to 3.5% in October and to 3.25% in March to help guide inflation to the target band.
The NBS will hold its next rate-setting meeting on May 10.