It will depend on the continuation of no pass-through from the oil and energy price increases to other prices in the economy. This is why the central bank has to monitor very closely wage and price setting behaviour as well as any other policy that may affect disposable income, in particular budgetary policy.
I should not be the one to speak about the National Bank of Serbia’s performance over these 125 years and its achievements in the 21st century; you are the only valid judges of our work. By preserving stability in prices and ensuring a sound and stable financial system, the National Bank of Serbia is creating conditions for the country’s macroeconomic stability in general.