The National Bank of Serbia increased its key monetary policy rate 25 basis points to 12.25% from 12.00% previously due to rising inflation pressures. The move follows up a previous 50 basis point hike this year. Serbia reported inflation of 11.2% in January this year, up from 10.3% in December; this compares to the Bank's inflation target of 4.5% +/- 1.5% for 2011, and 4.0% +/- 1.5% for 2012. Serbia has seen rising inflation due to rising agricultural prices both domestically and internationally, however the bank expects disinflationary forces to prevail through much of 2011.
www.CentralBankNews.info
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