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Hungary’s central bank keeps base rate on hold

The National Bank of Hungaryʼs (MNB) Monetary Policy Council (MPC) today decided to keep the central bankʼs key rate on hold at 1.35% at a rate-setting policy meeting held today, Hungarian news agency MTI reported.

(Photo: Jessica Fejos)

The MPC’s decision came as predicted, as analysts from a Reuters poll unanimously expected the MNB to maintain its base rate at this time. They added that the base rate could remain unchanged until the end of the year, when it might be raised to 1.83% by the end of 2017.

Since the central bank’s easing cycle ended in July, the MPC has kept the base rate on hold at its current level.