National Bank of Serbia keeps key policy rate at 5.75%

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The Executive Board of the National Bank of Serbia (NBS) today decided to keep the key policy rate at 5.75%.

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The Board also did not change the deposit (4.5%) and lending facility (7.0%) rates, the NBS said in a statement.

The Board made the decision primarily in view of the achieved and expected inflation, as well as factors from the domestic and international environment affecting its movements, it has been announced.

Total year-on-year inflation in Serbia, after slowing down to 3.8 percent in May, accelerated to 4.6 percent in June and 4.9 percent in July, mostly due to unfavorable weather that resulted in rising food prices (especially of unprocessed food), which was pronounced at the start of this year's agricultural season.

(Telegraf.rs)