Europe

National Bank of Serbia

Sounds hawkish lately +0.03

Speeches: 156
First speech: Oct 29, 2004
Latest speech: Jun 19, 2026
Tone vs coming rate moves: +0.10; rank correlation

Does the tone run ahead of the rate?

Speech tone over the previous three months, and the policy rate at the end of each month, on the same timeline. Hover over either chart to read the same month in both.

Speech tone

Policy rate

Latest speeches

Each speech's tone is the average over its sentences about policy, prices, rates or the economy. Open a speech to read it in full.

Date	Speech	Tone
Jun 19, 2026	Jorgovanka Tabaković: Serbian banks well-capitalised and profitable, maintaining high liquidity buffers Jorgovanka Tabaković	+0.05
May 13, 2026	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.13
Apr 28, 2026	Jorgovanka Tabaković: Brave old world Jorgovanka Tabaković	−0.07
Mar 24, 2026	Jorgovanka Tabaković: EU economy and global economic developments Jorgovanka Tabaković	+0.08
Mar 2, 2026	Jorgovanka Tabaković: Industrial policy supporting Serbia's long-term economic growth Jorgovanka Tabaković	+0.08
Feb 19, 2026	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.13
Nov 19, 2025	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.05
Nov 17, 2025	Jorgovanka Tabaković: Payment services between the digital anvil and the regulatory hammer Jorgovanka Tabaković	–
Nov 6, 2025	Jorgovanka Tabaković: Speech - IMF's presentation of the Regional Economic Outlook for Europe Jorgovanka Tabaković	+0.14
Sep 3, 2025	Jorgovanka Tabaković: Strong commitment and flexibility in engagement on the climate and nature agenda Jorgovanka Tabaković	−0.02
Aug 13, 2025	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.06
Jun 10, 2025	Jorgovanka Tabaković: Full support for a stable macroeconomic environment Jorgovanka Tabaković	+0.09
Jun 9, 2025	Jorgovanka Tabaković: Serbia upgraded the prudential framework for banks Jorgovanka Tabaković	−0.08
May 28, 2025	Jorgovanka Tabaković: By joining SEPA, Serbia reaffirms its strategic direction Jorgovanka Tabaković	+0.01
Apr 16, 2025	Jorgovanka Tabaković: Gender equality in financial institutions – the case of the National Bank of Serbia Jorgovanka Tabaković	–
Mar 26, 2025	Jorgovanka Tabaković: Navigating industrial policy Jorgovanka Tabaković	+0.27
Mar 2, 2025	Jorgovanka Tabaković: Serbia 2027 - striving towards a high-income economy Jorgovanka Tabaković	+0.14
Feb 19, 2025	Zeljko Jović: Overview of recent monetary and macroeconomic trends in Serbia Zeljko Jović	+0.12
Dec 6, 2024	Jorgovanka Tabaković: Significant potential for mutual benefits Jorgovanka Tabaković	+0.14
Dec 5, 2024	Jorgovanka Tabaković: The best investment in the future is investment in people, cooperation, and diversification Jorgovanka Tabaković	+0.07
Nov 27, 2024	Jorgovanka Tabaković: The best investment in the future is investment in people, cooperation, and diversification Jorgovanka Tabaković	+0.17
Nov 13, 2024	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.08
Oct 29, 2024	Jorgovanka Tabaković: Stability serves the interest of each of us Jorgovanka Tabaković	+0.04
Aug 14, 2024	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.13
Jul 2, 2024	Jorgovanka Tabaković: The National Bank of Serbia - mirror of the state before the people and a reflection of the people before the world Jorgovanka Tabaković	+0.08
Jun 18, 2024	Jorgovanka Tabaković: Stability of the banking sector in Serbia preserved and additionally strengthened Jorgovanka Tabaković	+0.18
Jun 12, 2024	Jorgovanka Tabaković: Development of financial services - opportunities and challenges Jorgovanka Tabaković	+0.05
May 14, 2024	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.15
Mar 28, 2024	Jorgovanka Tabaković: The importance of the financial industry Jorgovanka Tabaković	+0.08
Mar 6, 2024	Jorgovanka Tabaković: Instant payments, global inspiration Jorgovanka Tabaković	−0.06
Mar 4, 2024	Jorgovanka Tabaković: A new global context - challenges of an uncertain future Jorgovanka Tabaković	+0.06
Feb 20, 2024	Jorgovanka Tabaković: Debating is a man's duty Jorgovanka Tabaković	+0.08
Feb 14, 2024	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.05
Jan 31, 2024	Jorgovanka Tabaković: Transitions big and small Jorgovanka Tabaković	+0.07
Dec 21, 2023	Jorgovanka Tabaković: 150 years of the Serbian dinar Jorgovanka Tabaković	+0.02
Dec 14, 2023	Jorgovanka Tabaković: Development of financial industry in the digital economy era Jorgovanka Tabaković	+0.24
Dec 6, 2023	Jorgovanka Tabaković: Investment in trust is investment in the future - the opportunities and challenges in the banking sector Jorgovanka Tabaković	+0.13
Nov 29, 2023	Jorgovanka Tabaković: If not us, then who? If not now, when? Jorgovanka Tabaković	+0.21
Nov 15, 2023	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.02
Aug 16, 2023	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	−0.01
Jun 22, 2023	Jorgovanka Tabaković: Creating additional value with the most modern service at lower costs Jorgovanka Tabaković	+0.01
May 17, 2023	Zeljko Jović: Overview of recent monetary and macroeconomic trends in Serbia Zeljko Jović	+0.11
Mar 31, 2023	Jorgovanka Tabaković: Confidence remains the cornerstone of banking Jorgovanka Tabaković	+0.11
Mar 6, 2023	Jorgovanka Tabaković: Economic resilience in uncertain times - key challenges for Serbia and the Western Balkans Jorgovanka Tabaković	+0.02
Feb 14, 2023	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.04
Nov 17, 2022	Jorgovanka Tabaković: Only sustainable growth and development lead to a sustainable future Jorgovanka Tabaković	+0.12
Nov 16, 2022	Jorgovanka Tabaković: Stability of the insurance market preserved amid the global uncertainty Jorgovanka Tabaković	+0.16
Nov 15, 2022	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.14
Oct 4, 2022	Jorgovanka Tabaković: Smooth functioning of payment systems exceptionally important for the stability of the financial sector Jorgovanka Tabaković	+0.28
Sep 4, 2022	Jorgovanka Tabaković: New age, new finance, new technology Jorgovanka Tabaković	+0.33
Aug 17, 2022	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.19
May 18, 2022	Jorgovanka Tabaković: Inflation Report - May 2022 Jorgovanka Tabaković	+0.18
Mar 11, 2022	Jorgovanka Tabaković: Digitalisation, system upgrade - delivering the digital dividend Jorgovanka Tabaković	–
Mar 7, 2022	Jorgovanka Tabaković: Stability is the key prerequisite for success in all areas Jorgovanka Tabaković	+0.16
Feb 18, 2022	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.29
Dec 4, 2021	Jorgovanka Tabaković: Success and development necessitate constancy and perseverance in work for present and future generations Jorgovanka Tabaković	+0.14
Dec 4, 2021	Jorgovanka Tabaković: People, knowledge and trust are the key foundations of states and all institutions, particularly banking Jorgovanka Tabaković	+0.48
Dec 2, 2021	Jorgovanka Tabaković: Changing role of a central bank in modern international relations Jorgovanka Tabaković	+0.05
Nov 26, 2021	Jorgovanka Tabaković: Opening of "Serbian Insurance Days 2021" conference Jorgovanka Tabaković	+0.15
Nov 17, 2021	Jorgovanka Tabaković: Overview of recent monetary and macroeconomic trends in Serbia Jorgovanka Tabaković	+0.20

Next: Across all central banksHow tone lines up with rate moves at every bank tested, and whether it predicts them.