Central bank cuts key rate to record-low 3%
As expected, the National Bank of Hungary (MNB) today lowered the two-week deposit rate from 3.2% to an all-time low 3%. The central bank has lowered borrowing costs for 17 consecutive months to buttress the recovery from a recession last year.
The lack of inflation pressure gives rate setters room to ease borrowing conditions further and maintain “sustainable loose monetary conditions,” central bank President György Matolcsy had stated on November 28.
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.