Monetary Board of NBS kept referential interest rate at 9.5%

The Monetary Board of the National Bank of Serbia (NBS) decided today (January 21, 2010) to keep the referential interest rate at 9.5% on annual basis.

According to the announcement, the next meeting of the Monetary Board will be held on February 4th.

The referential interest rate was lowered by 0.5% on December 29, 2009, to 9.5%. Before that, it was lowered by 1% on November 5th (to 10%), on October 8th (to 11%) and on July 10th (to 12%).

NBS uses the interest rate on two-week repo opeations as the referential interest rate. In repo operations NBS sells securities with the obligation to buy them back with the interest after certain time.