Serbian Central Bank Trims Base Rate To 12%

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13:20 GMT

Jul 2009

Serbian Central Bank Trims Base Rate To 12%

(RTTNews) - Friday, the Serbian central bank reduced the key policy rate by one percentage point to 12%.

The previous change in the rate was a 100 basis point reduction to 13% from 14% on June 8.

The National Bank of Serbia also announced that it will lower the reserve requirement for banks to 30% in dinars from 35% in euros. The move is expected to boost dinar liquidity of the banking sector by nearly 13 billion dinars, the central bank said.

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