National Bank of Serbia

The National Bank of Serbia has decided to maintain the key policy rate at 5.75% in light of current and expected inflation trends, as well as domestic and international economic factors. The bank anticipates inflation will remain within the target range, supported by cautious monetary policy and systemic laws to curb unfair practices, despite some upward pressures from wage growth.

• The key policy rate, deposit facility, and lending facility rates are all held steady at 5.75%, 4.5%, and 7.0%, respectively.
• Inflation is expected to stay within the 3±1.5% target range until the end of 2026, aided by cautious monetary policy and improved agricultural conditions.
• Global uncertainties, including geopolitical tensions and protectionism, continue to influence Serbia's economic outlook and commodity prices.
• GDP growth for 2025 is estimated at 2.0%, impacted by production challenges in the oil sector.

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