National Bank of Serbia kept referential interest rate of 10%

The Monetary Board of the National Bank of Serbia (NBS) made the decision today (December 14, 2009) to keep the referential interest rate at 10%.

"Following the consideration of relevant economic trends, the Monetary Board estimated that the monetary policy is giving the results that ensure fulfillment of the set inflation goal", it is stated in the NBS' announcement.

According to the 2010 Monetary Policy Programme of NBS, which has been adopted by the Monetary Board, the primary goal of the monetary policy is to meet the target inflation, which will contribute to maintenance of stability of financial system and realization of sustainable economic growth.

The monetary policy in 2010 will be based on the NBS's Memorandum of monetary strategy, which was adopted by the Monetary Board on December 22nd, 2008, and the NBS's Memorandum on determination of target inflation rate for the period 2010-2012, which was adopted at the today's meeting of the Monetary Board.

The aim of the monetary policy in 2010 is to lower the inflation of 8% from the beginning of the year to 6% by the end of the year.