National Bank of Serbia holds key policy rate at 5.75%
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What happened
The National Bank of Serbia's Executive Board decided on September 10, 2026 to keep the key policy rate at 5.75%, with the deposit facility rate and lending facility rate also unchanged.
Why it matters
A central bank hold provides an updated policy signal on inflation and financing conditions. Keeping rates unchanged means households, firms, banks, and the finance ministry receive no new easing impulse, while the inflation-control framework remains in place.
The Executive Board of the National Bank of Serbia left the key policy rate unchanged at 5.75% on September 10, 2026, and also kept the deposit and lending facility rates unchanged. The move is a discrete same-day policy decision and signals that the central bank is not opening additional monetary room ahead of near-term fiscal spending and cash-transfer pressures. For the government, the hold keeps borrowing conditions and the inflation-control stance broadly unchanged going into the next round of budget and disbursement choices.
Watch for
National Bank of Serbia press release on monetary policy decisions scheduled for September 18, 2026 Market reaction analysis from the Belgrade Stock Exchange on September 19, 2026 Inflation rate report from the Statistical Office of the Republic of Serbia due on September 20, 2026 No changes in borrowing costs announced by major Serbian banks by September 19, 2026