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Serbia's c-bank holds key repo rate at 1.0%

Author Radomir Ralev
Serbia's c-bank holds key repo rate at 1.0% By NMedjedov (Own work), via Wikimedia Commons

BELGRADE (Serbia), October 7 (SeeNews) - Serbia's central bank, NBS, said on Thursday it will keep its key repo rate unchanged at 1.0%.

In making this decision, the central bank was guided by the previously taken monetary policy measures which are expected to continue having a positive economic effect, NBS said in a statement following a rate-setting meeting of its executive board.

The central bank cut its key repo rate to 1.25% from 1.5% in June 2020 and then to 1.0% in December to counter the adverse economic effects of the coronavirus outbreak.

Serbia's consumer prices rose by 4.3% year-on-year in August, after growing by 3.3% in July, official statistics show. On a monthly comparison basis, Serbia's consumer price index (CPI) went up 0.9% in August, after rising by 0.2% in July, according to the latest figures published on the website of the national statistical office.

The NBS will hold its next rate-setting meeting on November 9.