NBS raises benchmark interest rate again

The National Bank of Serbia (NBS) has again raised the benchmark interest rate, to 5.25 percent, which will consequently make dinar loans more expensive.

This is the tenth time that the NBS has raised the benchmark interest rate since April 2022.

In early April last year, the rate stood at 1 percent, to which it was lowered in December 2020, as a measure against the economic consequences of the coronavirus pandemic. The first increase, to 1.5 percent, followed in April 2022, with the benchmark interest rate reaching 5 percent at end of last year.

A press release from the NBS Governor’s office said that, at its meeting on Thursday, the NBS Executive Board voted to raise the rate by 25 bp to 5.25 percent, and to increase the deposit and credit facility rates by the same amount – to 4.25 percent and 6.25 percent, respectively.

The press release also said that, by doing so, the NBS continues to tighten its monetary policy and contain the second-round effects of cost-push pressures on price growth through inflation expectations.

(eKapija, 12.01.2023)



This post is also available in: Italiano

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