Central bank cuts key policy rate to nine percent

The Executive Board of the National Bank of Serbia (NBS) Thursday lowered its key policy rate by 0.5 percentage points to nine percent.

Izvor: Tanjug

Thursday, 08.05.2014.

15:14

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Central bank cuts key policy rate to nine percent

Medium-term inflation expectations of financial and real sectors are stable and within the band, it added.

Strong disinflationary pressures in the coming period will be generated by low aggregate demand, arising from, among other things, the credit downturn, adverse developments in the labour market and continuing low food production costs.

Trends in the foreign exchange market are stable, due not only to monetary policy measures, but the low current account deficit as well, the NBS said.

The Executive Board believes that the financial market has so far responded positively to the economic measures announced by the new Serbian government, which imply a commitment to vigorous and full implementation of fiscal policy measures.

This should stabilize inflation at a low level and create the room for further monetary policy easing, the NBS said.

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