The Bank also cut the interest rate by 75 basis points in November, 50bps in October, and 50bps in September, after pausing in August, while previously the Bank reduced the 2-week repo rate by 25 basis points to 11.75% at its July meeting, and cutting the rate 50 basis points at its June meeting to 12.00%. Serbia reported inflation of 8.7% in October, down from 10.5% in August, compared to 12.1% in July, 12.7% in June, 13.4% in May, 14.7% in April, and above the bank's inflation target range of 3-6%.
The IMF is forecasting 2011 GDP growth in Serbia of 2%, and 3% in 2012. The Bank next meets on the 19th of January 2012. The Serbian Dinar (RSD) last traded around 77.1 against the US dollar.