Serbia

Mildly restrictive

Policy rate

5.75%

Last move Sep 2024

Inflation

3.89%

As of null

Real policy rate

1.86%

Policy rate less inflation

Debt to GDP

42.60%

2026 est.

Inflation target3%

Policy rate vs target—

Last move-25 bps cut

Months at current rate—

Real GDP growth2.80%

Next scheduled decisionOct 9, 2026

Policy rate path, latest five years.

The verdict

Serbia sets its policy rate at 5.75%, against inflation of 3.89% — a real rate of 1.86% after inflation. The most recent decision was a 25bp cut in Sep 2024. The bank targets 3% inflation, and prices are running above that at 3.89%. On the fiscal side, the economy carries government debt of 42.6% of GDP (2026 est.) and real GDP growth of 2.8%.

Sources: policy rate and cycle history — BIS central bank policy rates (WS_CBPOL); inflation — national statistical agencies; debt and growth — IMF World Economic Outlook. Methodology: https://www.globalfinancialinfo.info/methodology/policy-rates · Dataset: https://www.globalfinancialinfo.info/global-economy · Free to print and share for non-commercial classroom use (CC BY-NC-ND 4.0).

Print or save as PDF for classroom use. Definitions and sources are on the methodology page.