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2018/03/14 / Erste Group Research

RS Short Note, Serbia: Due to lower inflation figures, NBS decides to cut the key rate to 3.25%

After the February 2018 CPI figure landed at 1.5% y/y and touched the lower end of the 3%+/-1.5pp target band, the Serbian central bank decided to cut the key rate to 3.25%. However, the lower yearly figures are mostly a result of the high base effect and not some structural slowdown or lack of demand. Thus, the effects of additional monetary easing are, in our view, fairly limited.

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General information

AuthorErste Group Research
Product nameCEE Country Update
Topic in focusFX, Macro/ Fixed income
Economy in focusSerbia
Currency in focusSerbian dinar
Sector in focus-


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