NBS keeps key policy rate at 5.75%

At its meeting today, the NBS Executive Board voted to keep the key policy rate at 5.75%. It also kept the deposit facility (4.5%) and lending facility (7.0%) rates unchanged, announced the National Bank of Serbia (NBS).

As added, the Board made the decision primarily in view of actual and expected inflation, as well as factors from the domestic and international environment affecting its movements. In the final months of 2025, inflation stabilized slightly below the NBS target midpoint (3±1.5%).

– The Board expects inflation to continue trending around the target midpoint until March 2026, i.e. as long as the Decree on Special Conditions for Trade in Certain Types of Goods – which caps wholesale and retail trade margins – is in force. Inflation is anticipated to continue moving within the 3±1.5% target tolerance band even after the expiry of the Decree, until end-2026 and in the medium run – the announcement says.