Official: MNB could lower rates at March 24 meeting

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The National Bank of Hungaryʼs (MNB) Monetary Council could lower rates at a policy meeting on March 24, the central bankʼs managing director for financial stability and lending incentives Márton Nagy said today, according to Hungarian news agency MTI.

At the last policy meeting, on February 24, the Monetary Council again acknowledged risks pointing in the direction of a lower base rate had increased, but agreed to decide on any possible rate change only after reviewing the central bankʼs next Inflation Report, MTI said.

The Council is scheduled to discuss the final version of the MNBʼs fresh Inflation Report at the policy meeting on March 24, the news agency noted. At a meeting in February, the rate-setters voted unanimously on a single proposal to keep the central bankʼs key rate unchanged at 2.10%, MTI added.

Earlier this week reuters-polled analysts said they expected the Hungarian central bank’s rate-setting Monetary Council to cut the current 2.10% base rate at a policy meeting scheduled for Tuesday.

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