Monetary Board of NBS keeps lowering referential interest rate

The Monetary Board of the National Bank of Serbia (NBS) lowered the referential interest rate today (July 10, 2009) by 1%, to 12% on annual basis.

The referential interest rate was last time lowered one month ago, on June 8th, from 14 to 13%, and the reasons for additional reduction of restrictivity of the monetary policy will be explained by the Governor of NBS, Radovan Jelašić, at today's press conference.

According to NBS' statement, the Monetary Board has adopted the changes in the Decision about special measures of support to financial stability of the country, which should contribute to improvement of the Dinar solvency of the banking sector.

The changes will be put in effect on July 18, 2009, and they should contribute to the growth of the Dinar solvency in the banking sector by about 13 billion RSD.