Hungary rate-setters keep key rate on hold for sixth month in a row
The National Bank of Hungary's Monetary Council decided to keep the central bank's key rate on hold at 7.00% at a rate-setting meeting on Tuesday.
The decision to keep rates on hold -- taken for the sixth month in a row -- was in line with market expectations. The Monetary Council last changed the rate - raised it by 50 basis points -- on December 21, 2011.
The Council discussed two proposals, one to keep the rate on hold an another for a 25bp rate cut, and the Council took the decision with an overwhelming majority, NBH governor András Simor told a press conference held 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.