Serbia: Policy rate
* indicates monthly or quarterly data series
The most recent value is 5.75 percent as of November 2024, no change compared to the previous value of 5.75 percent. Historically, the average for Serbia from January 2000 to November 2024 is 8.86 percent. The minimum of 1 percent was recorded in December 2020, while the maximum of 29.45 percent was reached in February 2001.
Click on the following link to see the values of: Policy rate around the world.
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* indicates monthly or quarterly data series
- Measure: percent
- Source: Bank for International Settlements (BIS)
Recent values | Serbia: Policy rate, percent |
---|---|
2024  Nov | 5.75 |
2024  Oct | 5.75 |
2024  Sep | 5.75 |
2024  Aug | 6 |
2024  Jul | 6 |
2024  Jun | 6.25 |
2024  May | 6.5 |
2024  Apr | 6.5 |
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Definition: The interest rate which best captures the monetary authorities' policy intentions. Different countries have different policy interest rates. The most common are the overnight lending rate, discount rate and repurchase rate (of different maturities).
In the USA the policy rate is the federal funds rate. The federal funds rate is the interest rate at which depository institutions trade federal funds (balances held at Federal Reserve Banks) with each other overnight. The federal funds rate is essentially determined by the market but is influenced by the Federal Reserve through open market operations to reach the federal funds rate target.
In the Euro area the policy rate is the main refinancing operations rate. The main refinancing operations (MRO) rate is the interest rate banks pay when they borrow money from the ECB for one week. When they do this, they have to provide collateral to guarantee that the money will be paid back.
The policy interest rates determine the levels of the rest of the interest rates in the economy, since it is the price at which private agents (mostly private banks) obtain money from the central bank.
Related indicators | Latest | Reference | Measure |
---|---|---|---|
Inflation | 12.4 | 2023 | percent |
Exchange rate regimes | 6 | 2022 | index points |
USD exchange rate | 110.0887 | 11/2024 | Local Currency Units per USD |
Money supply (broad money) | 2,396.43 | 9/2024 | billion |
Consumer Price Index (CPI) | 153.2000 | 10/2024 | index points |
Inflation, monthly | 0.52 | 10/2024 | percent |
Inflation, annual | 4.57 | 10/2024 | percent |
Private sector credit | 3,104.07 | 9/2024 | billion |
Business credit | 1,512.00 | 9/2024 | billion |
Household credit | 1,592.06 | 9/2024 | billion |
Mortgage credit | 606.71 | 9/2024 | billion |
Consumer credit | 985.36 | 9/2024 | billion |
Deposit interest rate | 4.44 | 9/2024 | percent |
Business credit interest rate | 8.04 | 9/2024 | percent |
Mortgage credit interest rate | 10.33 | 9/2024 | percent |
Policy rate | 5.75 | 11/2024 | percent |