The National Bank of Serbia released results of its March Inflation Expectations Survey, showing financial sector expectations for inflation over the next year remaining at the central value of the Bank’s inflation target for a third consecutive month. Business representatives’ short-term expectations stayed at 4.0% and remained within the limits of the inflation target for a second month. For the financial sector, expected inflation two years ahead rose to 3.3% from 3.0% in February, while three-year expectations stayed at 3.0%. A Bloomberg poll conducted in April indicated near-term financial sector expectations of 3.5% in March. For businesses, expectations two years ahead were unchanged at 4.0%, while three-year expectations fell to 4.1% from 5.0%, the lowest level since February 2025; over the past year, medium-term expectations have generally ranged between 4.0% and 5.0%. The Bank reiterated that it has published monthly inflation expectations since May 2015 for the financial sector, the economy, trade unions and households, alongside time series and methodological materials.
National Bank of Serbia 2026-04-15
National Bank of Serbia reports March inflation expectations with one-year financial sector expectations at target and two-year expectations up to 3.3%
The National Bank of Serbia published results of its March Inflation Expectations Survey, showing financial sector one-year expectations anchored at the central value of its inflation target for a third consecutive month and business one-year expectations stable at 4.0% within the target band. Financial sector expectations rose to 3.3% for two years ahead while remaining at 3.0% for three years, and business expectations stayed at 4.0% for two years ahead and declined to 4.1% for three years, the lowest since February.