Listen to the audio version of this article (generated by AI).
Listen to the audio version of this article (generated by AI).
The council also left the O/N deposit rate at 5.5% and the O/N collateralised loan rate at 7.5%. The rates mark the ends of the central bank’s symmetric interest rate corridor.
In a statement released after the meeting, the council said it had left the base rate on hold “in line with the stability-oriented approach” and reiterated their commitment to achieving the inflation target in a sustainable manner.
The council said maintaining tight monetary conditions was “warranted” and that a “careful and patient” approach to monetary policy remained necessary due to risk to the inflation environment.
“The council is constantly assessing incoming macroeconomic data and factors influencing the inflation outlook, in particular repricings at the start of the year and the stability of financial markets, based on which it will take decisions on the level of the base rate in a cautious and data-driven manner from meeting to meeting,” the rate-setters said.
“Monetary policy contributes to the maintenance of financial market stability, the anchoring of inflation expectations consistently with the central bank target and, as a result, to the achievement of the inflation target in a sustainable manner by ensuring positive real interest rates,” they added.
The minutes of the meeting on Tuesday will be published at 2:00 in the afternoon on February 11.
Producing journalism that is worthy of the name is a costly business. For over 30 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
