Policymakers keep base rate on hold
Photo by Adriana Iacob/Shutterstock.com
The Monetary Council of the National Bank of Hungary (MNB) decided to leave the central bank base rate unchanged, at 0.60%, at a monthly policy meeting on Tuesday, according to a report by state news wire MTI.
The council also decided on Tuesday to leave the O/N deposit rate at -0.05% and the O/N and one-week collateralised loan rates at 1.85%.
The O/N deposit rate and the collateralised loan rate mark the bottom and the top, respectively, of the central bank's "interest rate corridor". The base rate is paid on mandatory reserves and preferential deposits.
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