National Bank of Serbia moves to shore up confidence

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The executive board of the National Bank of Serbia (NBS) has voted to raise the benchmark interest rate and increase dinar reserve requirements in a bid to tackle rising inflation and halt the slide of the Serbian currency.

The NBS raised the main policy rate by 25 basis points to 10.5%, warning that year-on-year inflation had moved towards the top of its 2–4% tolerance band in June. The central bank cited rising food prices due to a poor harvest and higher import prices as factors behind the hi

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