NBS: Checking inflation up to new govt.
NBS Governor Radovan Jelašić says that halting inflation will depend on the measures applied by the new government.
Friday, 04.07.2008.
13:58
NBS Governor Radovan Jelasic says that halting inflation will depend on the measures applied by the new government. If inflationary pressure continues, the National Bank of Serbia (NBS) will need to increase its key interest rate of 15.75 percent, according to Jelasic. NBS: Checking inflation up to new govt. The governor said that if the NBS had not intervened in the market last year, the inflation rate would have been over 10 percent. He added that the NBS had spent EUR 100mn on withdrawing the surplus of dinars in circulation, and applying other measures to prevent inflation in 2007. “If inflation pressures are higher, the NBS is obliged to increase the key interest rate, meaning that the withdrawal of excess liquidity will be more expensive. From that point of view, this year expenditure will be higher, and the question is what the state will do in the second half of the year,” he explained. The NBS governor pointed out that if the new government joined the NBS in withdrawing the dinar surplus on the market, it would cut the costs for the central bank. Certain economists predict that this year’s inflation will reach at least 15 percent, and that the NBS will need to intervene on the market with several hundred million euros. Radovan Jelasic (FoNet, archive)
NBS: Checking inflation up to new govt.
The governor said that if the NBS had not intervened in the market last year, the inflation rate would have been over 10 percent. He added that the NBS had spent EUR 100mn on withdrawing the surplus of dinars in circulation, and applying other measures to prevent inflation in 2007.“If inflation pressures are higher, the NBS is obliged to increase the key interest rate, meaning that the withdrawal of excess liquidity will be more expensive. From that point of view, this year expenditure will be higher, and the question is what the state will do in the second half of the year,” he explained.
The NBS governor pointed out that if the new government joined the NBS in withdrawing the dinar surplus on the market, it would cut the costs for the central bank.
Certain economists predict that this year’s inflation will reach at least 15 percent, and that the NBS will need to intervene on the market with several hundred million euros.
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