BELGRADE (Serbia), November 13 (SeeNews) – Serbia’s central bank said on Friday it kept its key repo rate unchanged at 10% and cut to 20% from 25% the share of mandatory reserves on euro deposits that commercial banks have to maintain in Serbian dinars, aiming to improve the dinar liquidity of the banking system.
The cut will release some 14.5 billion dinars ($228 million/153 million euro) to banks, which in turn will have to allocate an additional 153.4 million euro to mandatory reserves on their euro depoits, the central bank, NBS, said in a statement.
The change will take effect as of November 18. The NBS monetary commitee will hold its next rate-setting session on December 4.
The NBS last changed the repo rate on November 5, lowering it to 10% from 11%.
(1 euro=94.5034 Serbian dinars)