Central bank keeps base rate on hold

History

Image by Jessica Fejos

The Monetary Policy Council (MPC) of the National Bank of Hungary (MNB) decided to keep the central bankʼs key rate on hold at 1.35% at a policy meeting today, as it was widely expected after the end of the easing cycle was announced at a meeting in July.

"In the Councilʼs assessment, the medium-term achievement of the Bankʼs inflation target and a corresponding support to the real economy point in the direction of maintaining loose monetary conditions for an extended period," Hungarian news agency MTI quoted the statement released after the meeting.

"In addition to the primary goal of meeting the inflation target, the Council also takes into account the condition of the real economy and incorporates financial stability considerations into its decisions," the Council statement added.

The condensed minutes of the meeting are scheduled to be published at 2 p.m. on October 7.

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