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Serbs Lift Rates to 3-Year High as Inflation Pressures Build

  • Benchmark rate rises by 25 basis points, as expected
  • Central bank is weighing rising inflation and slowing growth
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Serbia lifted its benchmark interest rate to the highest level in more than three years, seeking to strike a balance in taming accelerating inflation without undermining economic growth.

The central bank in Belgrade raised its one-week repurchase rate by a quarter percentage point to 3% on Thursday, in line with expectations of most analysts in a Bloomberg survey. The decision marked the fifth consecutive rate hike.