The National Bank of Serbia kept its key policy rate unchanged at 5.75% at its March 2026 meeting, and also left the deposit facility rate at 4.5% and the lending facility rate at 7%. The decision reflects both current and projected inflation trends, as well as domestic and global factors affecting price movements.
The central bank expects inflation to remain within its target tolerance band of 3% ± 1.5 percentage points through the end of 2026 and over the medium term. At the same time, policymakers cautioned that the sharp rise in international crude oil prices is likely to feed through into higher domestic petroleum product prices.
The central bank reaffirmed that monetary policy decisions will continue to be taken on a meeting-by-meeting basis, guided by incoming data, the inflation outlook, and an ongoing assessment of the impact of previously implemented policy measures.
