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Variable elements in interest rates

On this page you make get information on a daily basis about the current movements in variable elements in interest rates.

Variable elements in interest rates as at: 29.05.2020

Reference rate (Key policy rate) of the NBS 1.5
Deposit facilities interest rate of the NBS 0.5
Consumer price index 0
3M BELIBOR 1.17
6M BELIBOR 1.37
3M EURIBOR -0.28
6M EURIBOR -0.149

Explanation of terms


Reference rate – a benchmark interest rate whose changes set the changes in other interest rates. For example: reference rate of the NBS is a benchmark interest rate, considering that the level of basic interest rate on the money market, that is, the interest rate spread is set according to the level of that interest rate. In addition, reference rate of the NBS can be one of the components in the structure of the variable interest rates for loans in RSD (reference rate + margin). As reference rate is a variable category, adjustment of the nominal interest rate to the reference rate is done at the time intervals defined in the loan contract.

Deposit facilities interest rate - the lowest interest rate of the National bank of Serbia is applied in the operations on the money market. It is published and changed by the NBS, at the change intervals which are neither set nor settable.

Consumer price index (CPI) - - the measure of average changes in the price of the fixed basket of goods and services that the households buy to satisfy their needs. The index measures how the prices change over time, by using consumption structure of base period for both compared periods.

BELIBOR (Belgrade Interbank Offered Rate) – a reference rate at which leading banks lendmoney - dinars to one anther. The level of BELIBOR influences calculation of interest rates for loans in RSD. This reference rate is calculated for certain time periods of up to one year.

EURIBOR (Euro Interbank Offered Rate) – a daily reference rate at which 57 first rate banks lend each other money on the interbank market.