3.60%: National Bank of Hungary cuts base rate again

Analysis

It’s official: The National Bank of Hungary (MNB) announced at about 2pm CET that its base rate will once again be lowered by 20 base points to the new record-level mark of 3.60%. This marks the third consecutive month of a 0.20% drop and the 14th in a row which has seen the Monetary Council reduce the rate.

This was the expectation of a majority of analysts, experts and pundits, with most polled by Reuters and the Wall Street Journal, among others, reckoning today’s cut would be 0.20%

In a statement released after the decisive meeting, the Monetary Council stated that the MNB’s “3% mid-term inflation target provided the scope for further monetary policy easing.

“In the Council’s view, considering the outlook for inflation and the real economy and taking into account perceptions of the risks associated with the economy, further cautious easing of monetary conditions may follow,” read the statement in part.

ADVERTISEMENT

Czech economic confidence weakens in July Analysis

Czech economic confidence weakens in July

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.