The council also decided to lower the symmetric interest rate corridor in tandem, bringing the O/N deposit rate to 5.75% and the O/N collateralized loan rate to 7.75%.
At the previous policy meeting in June, the council had cut the base rate by 25 bp.
In a statement released after the meeting on Tuesday, the policymakers noted that the inflation outlook continued to be consistent with the MNB's projection in its latest quarterly Inflation Report released in June.
"The incipient recovery in Hungarian economic growth, historically high foreign exchange reserves, the persistent current account surplus, the government's deficit reduction measures and a cautious approach to monetary policy act in the direction of an improvement in the country's risk perception," the council said.
"However, the volatile financial market environment, significant geopolitical tensions, and the risks to the outlook for inflation continue to warrant a careful and patient approach," they added.
"The council is constantly assessing incoming macroeconomic data, the outlook for inflation and developments in the risk environment, based on which it will take decisions on the level of the base rate in a cautious and data-driven manner," the rate-setters said.
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