“The overwhelming majority of decision-makers agreed that the policy rate had reached the level which ensured the medium-term achievement of the inflation target and a corresponding degree of support to the economy,” the minutes released yesterday reveal, according to news agency MTI.
At the last rate-setting policy meeting on July 21, the central bank’s base rate was lowered by 15 bps, down to 1.35%.
According to the minutes, the Council decided on the 15 bps cut with a vote of 8:1. The external member János Cinkotai, who has been less dovish than his colleagues at previous rate-setting meetings, also voted to keep the base rate on hold.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
