Serbia: central bank policy rate

Last updated: Oct 9, 2026 11:15 UTC

Policy rate5.75%Sep 30, 2026

For information only. Figures are reproduced from the cited sources, may be delayed or contain errors, and are not advice of any kind. Always check the original source. This is not investment advice. Translations on this site are not official BIS translations.

SinceSep 12, 2024cut -25 bp

1 year ago5.75%

Last 2 years (daily values)

Policy rate since 2000 (month-end values)

All changes since 2000

Date	From	To	Change
Sep 12, 2024	6.00%	5.75%	cut -25 bp
Jul 11, 2024	6.25%	6.00%	cut -25 bp
Jun 13, 2024	6.50%	6.25%	cut -25 bp
Jul 13, 2023	6.25%	6.50%	hike +25 bp
Jun 8, 2023	6.00%	6.25%	hike +25 bp
Apr 6, 2023	5.75%	6.00%	hike +25 bp
Mar 9, 2023	5.50%	5.75%	hike +25 bp
Feb 9, 2023	5.25%	5.50%	hike +25 bp
Jan 12, 2023	5.00%	5.25%	hike +25 bp
Dec 8, 2022	4.50%	5.00%	hike +50 bp
Nov 10, 2022	4.00%	4.50%	hike +50 bp
Oct 6, 2022	3.50%	4.00%	hike +50 bp
Sep 8, 2022	3.00%	3.50%	hike +50 bp
Aug 11, 2022	2.75%	3.00%	hike +25 bp
Jul 7, 2022	2.50%	2.75%	hike +25 bp
Jun 9, 2022	2.00%	2.50%	hike +50 bp
May 12, 2022	1.50%	2.00%	hike +50 bp
Apr 7, 2022	1.00%	1.50%	hike +50 bp
Dec 10, 2020	1.25%	1.00%	cut -25 bp
Jun 11, 2020	1.50%	1.25%	cut -25 bp
Apr 9, 2020	1.75%	1.50%	cut -25 bp
Mar 12, 2020	2.25%	1.75%	cut -50 bp
Nov 7, 2019	2.50%	2.25%	cut -25 bp
Aug 8, 2019	2.75%	2.50%	cut -25 bp
Jul 11, 2019	3.00%	2.75%	cut -25 bp
Apr 12, 2018	3.25%	3.00%	cut -25 bp
Mar 14, 2018	3.50%	3.25%	cut -25 bp
Oct 9, 2017	3.75%	3.50%	cut -25 bp
Sep 7, 2017	4.00%	3.75%	cut -25 bp
Jul 7, 2016	4.25%	4.00%	cut -25 bp
Feb 11, 2016	4.50%	4.25%	cut -25 bp
Oct 14, 2015	5.00%	4.50%	cut -50 bp
Sep 10, 2015	5.50%	5.00%	cut -50 bp
Aug 13, 2015	6.00%	5.50%	cut -50 bp
Jun 11, 2015	6.50%	6.00%	cut -50 bp
May 11, 2015	7.00%	6.50%	cut -50 bp
Apr 9, 2015	7.50%	7.00%	cut -50 bp
Mar 12, 2015	8.00%	7.50%	cut -50 bp
Nov 13, 2014	8.50%	8.00%	cut -50 bp
Jun 12, 2014	9.00%	8.50%	cut -50 bp
May 8, 2014	9.50%	9.00%	cut -50 bp
Dec 17, 2013	10.00%	9.50%	cut -50 bp
Nov 7, 2013	10.50%	10.00%	cut -50 bp
Oct 18, 2013	11.00%	10.50%	cut -50 bp
Jun 6, 2013	11.25%	11.00%	cut -25 bp
May 14, 2013	11.75%	11.25%	cut -50 bp
Feb 5, 2013	11.50%	11.75%	hike +25 bp
Jan 17, 2013	11.25%	11.50%	hike +25 bp
Dec 14, 2012	10.95%	11.25%	hike +30 bp
Nov 8, 2012	10.75%	10.95%	hike +20 bp
Oct 9, 2012	10.50%	10.75%	hike +25 bp
Aug 9, 2012	10.25%	10.50%	hike +25 bp
Jul 12, 2012	10.00%	10.25%	hike +25 bp
Jun 7, 2012	9.50%	10.00%	hike +50 bp
Jan 19, 2012	9.75%	9.50%	cut -25 bp
Dec 8, 2011	10.00%	9.75%	cut -25 bp
Nov 10, 2011	10.75%	10.00%	cut -75 bp
Oct 6, 2011	11.25%	10.75%	cut -50 bp
Sep 8, 2011	11.75%	11.25%	cut -50 bp
Jul 7, 2011	12.00%	11.75%	cut -25 bp
Jun 9, 2011	12.50%	12.00%	cut -50 bp
Apr 7, 2011	12.25%	12.50%	hike +25 bp
Mar 10, 2011	12.00%	12.25%	hike +25 bp
Jan 17, 2011	11.50%	12.00%	hike +50 bp
Dec 9, 2010	10.50%	11.50%	hike +100 bp
Nov 11, 2010	9.50%	10.50%	hike +100 bp
Oct 14, 2010	9.00%	9.50%	hike +50 bp
Sep 7, 2010	8.50%	9.00%	hike +50 bp
Aug 5, 2010	8.00%	8.50%	hike +50 bp
May 11, 2010	8.50%	8.00%	cut -50 bp
Apr 8, 2010	9.00%	8.50%	cut -50 bp
Mar 23, 2010	9.50%	9.00%	cut -50 bp
Dec 29, 2009	10.00%	9.50%	cut -50 bp
Nov 5, 2009	11.00%	10.00%	cut -100 bp
Oct 8, 2009	12.00%	11.00%	cut -100 bp
Jul 10, 2009	13.00%	12.00%	cut -100 bp
Jun 8, 2009	14.00%	13.00%	cut -100 bp
Apr 22, 2009	15.00%	14.00%	cut -100 bp
Apr 6, 2009	16.50%	15.00%	cut -150 bp
Jan 22, 2009	17.75%	16.50%	cut -125 bp
Nov 3, 2008	15.75%	17.75%	hike +200 bp
May 29, 2008	15.25%	15.75%	hike +50 bp
Apr 24, 2008	14.50%	15.25%	hike +75 bp
Mar 13, 2008	11.50%	14.50%	hike +300 bp
Feb 28, 2008	10.75%	11.50%	hike +75 bp
Feb 6, 2008	10.00%	10.75%	hike +75 bp
Dec 27, 2007	9.50%	10.00%	hike +50 bp
Oct 29, 2007	9.75%	9.50%	cut -25 bp
Aug 28, 2007	9.50%	9.75%	hike +25 bp
Jun 1, 2007	10.00%	9.50%	cut -50 bp
May 4, 2007	10.50%	10.00%	cut -50 bp
Mar 30, 2007	11.50%	10.50%	cut -100 bp
Mar 2, 2007	13.00%	11.50%	cut -150 bp
Jan 31, 2007	14.00%	13.00%	cut -100 bp
Dec 27, 2006	15.50%	14.00%	cut -150 bp
Dec 8, 2006	16.50%	15.50%	cut -100 bp
Nov 15, 2006	17.50%	16.50%	cut -100 bp
Nov 3, 2006	18.00%	17.50%	cut -50 bp
Sep 1, 2006	8.50%	18.00%	hike +950 bp
Jan 1, 2004	9.00%	8.50%	cut -50 bp
Jan 11, 2003	9.50%	9.00%	cut -50 bp
Jun 1, 2002	11.00%	9.50%	cut -150 bp
Apr 1, 2002	12.43%	11.00%	cut -143 bp
Mar 1, 2002	13.85%	12.43%	cut -142 bp
Feb 2, 2002	18.34%	13.85%	cut -449 bp
Feb 1, 2002	16.43%	18.34%	hike +191 bp
Dec 1, 2001	17.02%	16.43%	cut -59 bp
Nov 1, 2001	16.43%	17.02%	hike +59 bp
Oct 1, 2001	17.02%	16.43%	cut -59 bp
Sep 29, 2001	21.30%	17.02%	cut -428 bp
Sep 1, 2001	20.55%	21.30%	hike +75 bp
Aug 25, 2001	24.81%	20.55%	cut -426 bp
Jul 1, 2001	25.73%	24.81%	cut -92 bp
Jun 16, 2001	12.87%	25.73%	hike +1,286 bp
Jun 1, 2001	12.43%	12.87%	hike +44 bp
May 1, 2001	12.87%	12.43%	cut -44 bp
Apr 1, 2001	12.43%	12.87%	hike +44 bp
Mar 1, 2001	29.45%	12.43%	cut -1,702 bp
Feb 1, 2001	26.26%	29.45%	hike +319 bp
Jan 1, 2001	26.34%	26.26%	cut -8 bp
Dec 1, 2000	27.33%	26.34%	cut -99 bp
Nov 1, 2000	26.34%	27.33%	hike +99 bp
Oct 1, 2000	27.33%	26.34%	cut -99 bp
Sep 1, 2000	26.34%	27.33%	hike +99 bp
Jul 1, 2000	27.33%	26.34%	cut -99 bp
Jun 1, 2000	26.34%	27.33%	hike +99 bp
May 1, 2000	27.33%	26.34%	cut -99 bp
Apr 1, 2000	26.34%	27.33%	hike +99 bp
Mar 1, 2000	28.39%	26.34%	cut -205 bp
Feb 1, 2000	26.34%	28.39%	hike +205 bp

Which rate is shown (BIS notes, in English)

From 1 Sept 2006 onwards: Central Bank policy rate; from 1 Jan 1997 to 31 Aug 2006: Central Bank discount rate.

Changes by year

Method

We download the BIS daily policy-rate series (WS_CBPOL). A change is recorded on the first day the published value differs from the previous day's value. Series that ended (for example euro area members before joining the euro) are not listed. bp = basis points (0.01 percentage point).

About this page

The policy rate of Serbia is 5.75% (BIS data as of Sep 30, 2026).