Policymakers raise base rate 30 bp to 2.4%

MNB

Photo by Adriana Iacob/Shutterstock.com

The Monetary Council of the National Bank of Hungary (MNB) decided to raise the central bank base rate by 30 bp to 2.4% at a monthly policy meeting on Tuesday, according to a report by state news wire MTI.

The scale of the rise matched the one a month earlier and came after November inflation spiked at 7.4%.

The council also decided on Tuesday to raise the O/N deposit rate by 80 bp to 2.4% and the O/N and one-week collateralized loan rates by 30 bp to 4.4%.

The O/N deposit rate and the collateralized 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.

ADVERTISEMENT

Business, consumer sentiment improve in January Analysis

Business, consumer sentiment improve in January

Márki-Zay tests positive for COVID-19 Elections

Márki-Zay tests positive for COVID-19

New partner announced at act Bán & Karika Attorneys at Law Appointments

New partner announced at act Bán & Karika Attorneys at Law

Gov't calls for technical screening of László Papp Arena City

Gov't calls for technical screening of László Papp Arena

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 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.