Changes in monetary policy announced

NBS governor Radovan Jelašić said the central bank must react to inflation pressure and tighten its monetary policy.

Izvor: Tanjug

Thursday, 26.07.2007.

09:34

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Changes in monetary policy announced

“A move by the NBS could force bankers to correct their interest rates, but I think that they will wait,” he said.

“I do not believe that all banks will increase the prices of their dinar-currency loans, which has started flourishing on the market after many years, because they do not want to lose clients. But I think that increasing the referential interest rate will not cause any great changes in the credit activity of banks,” Jelašić said.

He said that the bank “has not received a restrictive budget, which would help the NBS maintain inflation at the planned level.”

“On the contrary, public spending has increased,” Jelašić said.

“This year a base inflation of between four and eight percent is the goal, which will be achieved by the NBS, while projections for the coming year are aiming for a base inflation of three to six percent,” Jelašić said, adding that the NBS is making sure that the inflation pressure will not be stacking up and eventually spilling over into 2008.

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