Serbia Holds Rate With Snap Election Set to Boost Spending

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Or sign-in if you have an account.pt3xjlq)xe}r49g3zmjc1h[t_media_dl_1.png Serbian Statistics Office(Bloomberg) — Serbia extended an interest-rate pause tracking back almost two years, with policymakers weighing the impact of higher global oil prices and the government expected to embark on spending splurge ahead of a snap election. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountThe National Bank of Serbia left its benchmark one-week repurchase rate at 5.75% on Thursday, as expected by all economists in a Bloomberg survey. Annual price growth slowed to the lowest level in more than five years in July, with President Aleksandar Vucic declaring that the authorities had “managed to defeat inflation” and the focus was now on the economic expansion.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againDriven by domestic demand and consumption, growth quickened to 3.6% in the second quarter and may get an additional boost as Vucic’s administration prepares €600 million ($692 million) in budget spending to help him return to the post of prime minister from the presidency to extend his rule.Handouts for pensioners, subsidies for medicines and other forms of welfare for vulnerable groups are to take effect before early elections seen taking place in October or November, along with increases in public sector wages and pensions.With headline inflation lower than expected in recent months and with no significant second-round impact from energy price surge caused by the war in the Middle East, policymakers see Serbia’s consumer-price index staying within their target range over the entire projection period through 2027, the central bank said. Energy prices increased by 9.3% in July from the previous year, driven by oil products, according to the central bank. Core inflation, which excludes the most volatile items such as food and energy, stood at a “relatively stable” 4.5%, though it’s been above the headline figure since September. —With assistance from Harumi Ichikura.(Adds inflation expectations in sixth paragraph)This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.