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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.

Inflation Movements in September 2018
2018-10-12 14:30:56.0 According to the data of the Serbian Statistical Office, consumer prices fell by...
Key Policy Rate Kept on Hold
2018-10-08 12:02:52.0 At its meeting today, the NBS Executive Board voted to keep the key policy rate on hold...
New Statistics – Interest Rates, Loans and Deposits by Enterprise Size and Type of Indexation of Interest on Dinar Loans and Deposits
2018-09-24 10:32:07.0 The NBS broadened the coverage of statistical data collected from banks and published on its website...
Report on Dinarisation of the Serbian Financial System
2018-09-20 15:03:14.0 Report on Dinarisation of the Serbian Financial System - June 2018
Results of Inflation Expectations Survey for August
2018-09-18 10:37:45.0 According to the August survey, short-term and medium-term inflation expectations of the financial and corporate sectors...
See More...
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 2020
Related Topics...
BEONIA (Belgrade OverNight Index Average)
Daily Banking Sector Liquidity