The credibility is important element for effective implementation of monetary policy, and one of the requirements to achieve successful economic development is the effectiveness of monetary policy. Credibility actually means authenticity, a credible monetary policy is one in which the public has confidence. This paper analyzes the credibility of monetary policy of NBS. Credibility is determined by using the formula proposed by De Mendonca (2004) based on the information available from the website of NBS, and the formula proposed by the author of paper. The analysis was conducted for the period 2010 - March 2018 on a monthly basis and at first measuring credibility separately for population, economy, financial sector and trade unions, as well as the credibility of the realization of the inflationary policy. Based on the analysis it was found that the greatest credibility of monetar policy of NBS has in the financial sector, then the sector of the economy, and then in trade unions, and the lowest in population. From the point of realization of monetary goals NBS has the highest credibility in 2017.

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Закон о НБС, https://www.nbs.rs/internet/latinica/20/zakoni/nbs_o_nbs_np.pdf, приступљено 30.04.2018. године