Central bank hikes key policy rate

The National Bank of Serbia (NBS) Executive Board voted to raise the key policy rate by one percentage point to 11.5 percent.

Izvor: Tanjug

Thursday, 09.12.2010.

13:37

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The National Bank of Serbia (NBS) Executive Board voted to raise the key policy rate by one percentage point to 11.5 percent. In making this decision, the Executive Board took into account the need to contain inflationary pressures stirred up by the rise in agricultural product prices, regulated price growth and the effects of past depreciation of the Serbian dinar. Central bank hikes key policy rate Year-on-year inflation exceeded the upper limit of the target tolerance band in October. According to the board's estimates, the inflation rate is likely to continue rising over the coming months, run above the upper end of the target tolerance band in the first half of 2011, and then fall back to the target in the second half of the year. The aim is to bring inflation back within the 4.5 plus or minus 1.5 percent target band by the end of 2012.

Central bank hikes key policy rate

Year-on-year inflation exceeded the upper limit of the target tolerance band in October.

According to the board's estimates, the inflation rate is likely to continue rising over the coming months, run above the upper end of the target tolerance band in the first half of 2011, and then fall back to the target in the second half of the year.

The aim is to bring inflation back within the 4.5 plus or minus 1.5 percent target band by the end of 2012.

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