MNB: Room for further rate cuts is narrowing
The room for further central bank rate cuts is “increasingly narrowing”, the National Bank of Hungaryʼs (MNB) managing director for monetary policy Barnabás Virág told economists on Saturday, Hungarian news agency MTI reported this morning .
The central bankʼs recent rate cuts have proved to be sustainable, Barnabás said at the National Meeting of Young Economists in Pécs.
The MNB’s policy makers decided to lower the central bankʼs key rate by 15 bps to 1.2% at a meeting in March, making a cut for the first time since last summer and signalling possible further easing.
“Interest rate cuts will continue as long as monetary conditions become consistent with the sustainable achievement of the inflation target,” the rate-setters said in a statement after the meeting.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 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.