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Nov 05, 2009 11:33 EEST
BELGRADE (Serbia), November 5 (SeeNews) – Serbia’s central bank, NBS, said on Thursday it has decided to lower its key repo rate to 10% from 11%, taking into account the current economic developments.
NBS governor Radovan Jelasic will provide more details on the decision to cut the repo rate at a news conference later on Thursday, the bank said in a statement.
NBS last changed the repo rate on October 8, cutting it to 11% from 12%. It also cut the ratio of dinar-denominated mandatory reserves to 25% from 30%, aiming to boost the liquidity of the country’s banking system.
The bank's key rate has come down from 17.75% over the course of 2009.
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