6 оf 10  Chart 8 Lending activity to the non-monetary sector  Chart 9 NPL level and share in total loans, gross principle  (y-o-y growth rates in %, excluding the exchange rate effect)  (in RSD bn)  20  500  (in %)  Household sector Corporate sector Other sectors NPL share in total loans (RHS)  15  25  400  20  300  15  200  10  100  5  10 5 0 -5  Households Enterprises Total  -10 -15 2010 Source: NBS.
0 2012  2014  2016  2018  2020  2022  0 2010  2012  2014  2016  2018  2020  Dec 2022  Source: NBS. In making the decision on the key policy rate, we assessed that the current tightening of monetary conditions would not have a major negative impact on domestic demand.