Serbia hikes for eighth consecutive month

Inside the National Bank of Serbia

The board of the Serbian central bank ordered its eighth consecutive hike on November 10, raising the policy rate 50 basis points to 4.5%.

It has now raised the benchmark rate 350bp since April 2022. The board’s press statement said Serbia’s high inflation was driven mainly by external factors, despite a slowdown in growth more severe than it had forecast.

Year-on-year headline inflation came to 14% in September, up from 13.2% in August, according to Serbia’s statistics agency. Core inflation

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