Serbia's C-bank Keeps Key Repo Rate Flat at 12%

The bank’s monetary committee decided to keep the rate unchanged, taking into account the current economic developments, the central bank said in a statement. It did not elaborate.

NBS governor Radovan Jelasic is expected to provide more details on the decision to keep the repo rate flat at a news conference scheduled for later on Friday.

The committee's next session will be held on September 23.

NBS last changed the repo rate on July 10, cutting it to 12% from 13%. It also relaxed lending rules for local banks to stimulate domestic demand amid the global economic downturn.

($=0.7011 euro)