Serbia Cuts Main Interest Rate on Inflation, Growth Outlook

Serbia’s central bank cut its benchmark interest rate for the fifth time since June to support economic growth as inflation slows and concern over the impact of Europe’s debt crisis rises.

The Narodna Banka Srbije lowered its two-week repurchase rate by 75 basis points to 10 percent, the lowest level in a year, the bank said in a statement. Nine of 23 economists in a Bloomberg survey predicted a quarter-point cut, six forecast a half-point reduction and eight saw no rate change.