10 November 2011

SERBIA: For 5th Time...C.Bank Cuts Benchmark...Now 10%.


      Another monthly meeting...another interest rate cut by Serbian central bank.
      For the 5th time since June...the Narodna Banka Srbije lowered its two-week repurchase rate by 75bps...to 10%...the lowest level in a year.
      The C.Bank justified the bigger than expected cut because of a poor outlook for exports that go mainly to the EU.
     Also...annualized inflation slowed to 9.3% in September.
     April's inflation rate was 14.7%.