Serbia's c-bank holds key repo rate at 6.50%

In making this decision, the central bank was guided by the gradual weakening of cost pressures from the international environment, as well as the downward path of domestic inflation, it said in a statement.

The 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.

It is now necessary to see the full effects of the previously implemented measures before further tightening of monetary policy, the NBS 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 8.5% year-on-year in October, after easing to 10.2% the month before.

The central bank will hold its next rate-setting meeting on January 11.