NBS cuts key interest rate

The Monetary Board of the National Bank of Serbia (NBS) has reduced the reference interest rate from the current 16.5 percent to 15 percent.

Izvor: Tanjug

Monday, 06.04.2009.

14:56

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The Monetary Board of the National Bank of Serbia (NBS) has reduced the reference interest rate from the current 16.5 percent to 15 percent. The central bank said in Belgrade on Monday that the slowing down of inflation in March and the expected low inflation in the coming period, as well as the announced arrangement with the International Monetary Fund (IMF) "should contribute to maintaining the macroeconomic balance". NBS cuts key interest rate This hase created space for easing the restrictiveness of the monetary policy, the Monetary Board concluded. The maintaining of low monthly inflation rates will also be affected by the postponed increase in prices of electric energy, as well as the Government Memorandum on the trends in regulated prices which envisages that their growth in 2009 will not go over 15 percent. Any further easing of the restrictiveness of the monetary policy can be realized only under the condition that Serbia should reach a new arrangement with the IMF which would, in addition to securing external sources, also guarantee adequate restrictiveness of the fiscal policy, the statement said.

NBS cuts key interest rate

This hase created space for easing the restrictiveness of the monetary policy, the Monetary Board concluded.

The maintaining of low monthly inflation rates will also be affected by the postponed increase in prices of electric energy, as well as the Government Memorandum on the trends in regulated prices which envisages that their growth in 2009 will not go over 15 percent.

Any further easing of the restrictiveness of the monetary policy can be realized only under the condition that Serbia should reach a new arrangement with the IMF which would, in addition to securing external sources, also guarantee adequate restrictiveness of the fiscal policy, the statement said.

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