Serbian central bank cuts key rate with inflation stuck below target

The National Bank of Serbia

The National Bank of Serbia cut its key interest rate by another 50bp to 8% on November 13, citing the fact inflation is "likely" to remain below the central bank's tolerance band in the coming months.

Annual CPI inflation has sat below the central bank's tolerance band of 2.5–5.5% for eight consecutive months, and dropped further, from 2.1–1.8% in October.

This is a novel experience for Serbia, which has struggled with volatile inflation for much of the past decade. Inflation oscillated between

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