Monetary Board of NBS lowered reference interest rate to 9%

The Monetary Board of the National Bank of Serbia (NBS) lowered the reference interest rate today (March 23, 2010) by 0.5%, to 9%.

The reference interest rate was lowered the last time on December 29, 2009, by 0.5%, to 9.5% on annual basis.

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