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01. April 2003 - Tuesday |
Serbian premier urges central bank to adapt exchange rate to economic needs
Belgrade - The National Bank of Serbia will shortly be formed by a special law, Serbian Premier Zoran Zivkovic said Tuesday [1 April], adding that the central bank should listen to the market and adapt the foreign currency exchange rate to economic needs.
"A stable monetary policy does not mean that it is fixed," Zivkovic told the press, noting that the monetary policy should not burden the economy and banks with sudden, unannounced and unexplained increases in the obligatory reserves.
Underscoring that the National Bank of Serbia should listen more to the country's economic activities and that its job is not to listen to the executive powers and politicians, Zivkovic warned that a firm monetary policy should not result in a dead economy.
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