Serbia's c-bank holds key repo rate at 6.5%

In making this decision, the central bank was guided by the further reduction of global inflationary pressures, as well as the downward trajectory of domestic inflation, it said in a statement.

The National Bank of Serbia (NBS) also left unchanged the deposit facility rate and the lending facility rate, at 5.25% and 7.75%, respectively.

The decision reflects the weakening of cost pressures and reduction of inflation on a global level, approaching pre-pandemic levels, it added.

The central bank last changed its key rate in July, increasing it by 25 basis points to 6.5% to counter inflationary pressures.

The latest data published by the national statistical office showed that Serbia's consumer price growth slowed to 7.6% year-on-year in December, after easing to 8% the month before.

The central bank will hold its next rate-setting meeting on March 7.