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Serbia's c-bank keeps key rate at 6.5%

May 10, 2024, 1:50:41 PMArticle by Djordje Jajcanin
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May 10 (SeeNews) - Serbia's central bank (NBS) said on Thursday it has decided to keep its key rate at 6.5%, along with unchanged deposit and lending interest rates.

Serbia's c-bank keeps key rate at 6.5%
Source: National Bank of Serbia

This decision reflects considerations of global inflation trends and uncertainties in energy and primary product prices, the NBS said in a statement.

The deposit and lending rates were kept unchanged at 5.25% and 7.75%, respectively.

The NBS last changed its key rate in July last year, 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 5% year-on-year in March, after easing to 5.6% the month before.

According to a flash estimate by the national statistics service, real GDP growth accelerated to 4.6% year-on-year in the first quarter, driven by the growth of activity in trade, industry, and construction, with a positive contribution from other service sectors as well.

The central bank will hold its next rate-setting meeting on June 13.

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