Inflation Report contains information on the current and expected inflation, analysis of underlying macroeconomic developments, explanation of the reasoning behind the decisions of the Executive Board and an assessment of the monetary policy efficiency as implemented during the previous quarter. Integral parts of this report are inflation projection for eight quarters ahead, assumptions on which such projection is based and an analysis of the basic risks involved in achievement of target inflation.
Text box 1: Additional FX swap auctions Text box 2: Synchronisation of economic and credit cycles of Serbia and the euro area Text box 3: Analysing the dynamics of Serbia’s savings and investment balance Text box 4: Analysis of trends in the market of agricultural and food products in Serbia
* Disclaimer: The interpretation does not constitute an authentic record of proceedings. The simultaneous interpretation of Inflation Report presentations by the National bank of Serbia serves only to facilitate communication amongst the participants in the press conference. It does not constitute an authentic record of proceedings. Only the original speech or the revised written translation of that speech is authentic. Where there is any difference between the simultaneous interpretation and the original speech (or the revised written translation of the speech), the original speech (or the revised written translation) takes precedence. Unless expressly authorised by the National Bank of Serbia, the use of the recorded interpretation for any purpose other than that mentioned above is strictly prohibited.