Serbia cuts rate amid IMF call for action on debt overhang

The National Bank of Serbia
Photo: LukaP/Wikimedia Commons

The National Bank of Serbia (NBS) today (May 11) cut its headline interest rate for the third month in a row, citing "persistently subdued" inflation.

Annual CPI inflation came in at 1.9% in March, below the NBS's tolerance band of 1.5 percentage points either side of its 4% target.

The central bank cut its headline interest rate 50 basis points to 6.5%, continuing an easing cycle that began when rates hit a peak of 11.75% in March 2013.



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