May 7 (SeeNews) - Serbia's central bank, NBS, said on Thursday it will keep its key repo rate unchanged at 1.5%.
The inflation rate is expected to move at the lower part of the 1.5%-4.5% target band by the end of 2020, NBS said in a statement.
The central bank cut its key repo rate to 1.5% from 1.75% in April to counter the adverse economic effects of the coronavirus outbreak.
Serbia's consumer prices rose by 1.3% year-on-year in March, after growing by 1.9% in February, official statistics show. On a monthly comparison basis, Serbia's consumer price index (CPI) fell by 0.1% in March, after rising by 0.6% in February, according to figures published on the website of the national statistical office.
The NBS will hold its next rate-setting meeting on June 11.