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Monetary Policy

Monetary Policy

The National Bank of Serbia is a public institution in charge of safeguarding the value and purchasing power of money.

Monetary and Financial Stability

The core purpose of the National Bank of Serbia is to provide monetary and financial stability.

Monetary stability means a low, stable and predictable inflation and confidence in the currency.

Financial stability means a sound financial system in which banks and other financial organizations function well and responsibly safeguard their clients' money.

In pursuit of both purposes, the National Bank of Serbia implements appropriate monetary policy.

Functions of the National Bank of Serbia

  • The National Bank of Serbia manages money and interest rates so as to accomplish a low, stable and predictable inflation rate, which creates an environment conducive to sustainable economic development and employment growth.
  • By safeguarding the value of the national currency, the NBS contributes to the growth of citizens' living standard.
  • By managing money and loans, the National Bank of Serbia influences the strengthening and maintenance of public confidence in the dinar, facilitating business decision making and forward-looking planning for businessmen and citizens.
  • The National Bank of Serbia maintains financial stability, ensuring safety and efficiency of the payment system, as well as monitoring and supervising the activities of commercial banks and other financial organizations.
  • The National Bank of Serbia is the Government’s banker and it manages the country’s foreign exchange reserves.

Opening Remarks by Vice-Governor Željko Jović at the Presentation of the Inflation Report – February 2019
2019-02-13 10:46:46.0 Opening Remarks by Vice-Governor Željko Jović at the Presentation of the Inflation Report – February 2019
Speech by Savo Jakovljević, Acting General Manager of the Economic Research and Statistics Department, at the Presentation of the Inflation Report – February 2019
2019-02-13 10:35:50.0 Speech by Savo Jakovljević, Acting General Manager of the Economic Research and Statistics Department, at the Presentation of the Inflation Report – February 2019
Speech by Nikola Dragašević, General Manager of the Monetary and Foreign Exchange Operations Department, at the Presentation of the Inflation Report – February 2019
2019-02-13 10:25:37.0 Speech by Nikola Dragašević, General Manager of the Monetary and Foreign Exchange Operations Department, at the Pesentation of the Inflation Report – February 2019
Inflation Report – February 2019
2019-02-13 10:11:55.0 Inflation Report – February 2019
Governor Tabaković Receives Award “Digital Life – Through Digitisation to the Improvement of Life Quality”
2019-02-07 15:00:05.0 NBS Governor Jorgovanka Tabaković has received today the award of PC Press – TOP 50 “Digital Life – Through Digitisation to the Improvement of Life Quality” for the introduction of the instant payments system, as the project that marked the year 2018...
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Regulations
Agreement between the National Bank of Serbia and the Government of the Republic of Serbia on Inflation Targeting
Memorandum on Inflation Targeting as Monetary Strategy
National Bank of Serbia’s Memorandum on Inflation Targets until 2021
 
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