“One more step is possible”, Nagy said about the additional rate cuts, MTI reported.
The MNBʼs Monetary Council decided to cut the central bankʼs key rate by 15 bps to a record low 1.05% at its April 26 meeting.
On March 22 the central bank surprised analysts by announcing that it would cut the central bank’s base rate by 15 basis points to 1.2% for the first time since last summer’s easing period.
On April 26 the central bank decided to continue cutting the key rate by 15 bps to 1.05%.
After the first cut in March, analysts said Hungaryʼs policy rate was likely to trough sharply below 1% as the central bank started its new easing cycle earlier than expected and demonstrated an explicitly dovish stance.
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