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MNB cuts base rate by 15 bp

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The National Bank of Hungaryʼs (MNB) Monetary Council decided at a policy meeting today to reduce the central bankʼs base rate by 15 bp to 1.95%, despite analysts anticipating a 20 bp cut.

The cut was the first rate change since the MNB wound up an easing cycle last summer.

At a policy meeting a month earlier, the rate-setters said they would only consider a change following the review of the MNBʼs fresh Inflation Report, the main figures of which will be released today.

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