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Hungary central bank keeps key rate on hold at 6%

Interview

The Monetary Council of Hungary's national bank (MNB) left the central bank's key rate on hold at 6% at a rate-setting meeting on Tuesday.

There was only one proposal discussed, and the decision was unanimous, MNB president András Simor told the press after the meeting.

The decision was in line with market expectations.

Rate-setters left the key rate unchanged for the seventh month in a row following a tightening cycle started last November and finished in January.

At the previous meeting held on July 26, Council members voted unanimously to keep the rate on hold, agreeing that keeping the rate "over a sustained period" would help bring inflation to the 3% mid-term "price stability" target.

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