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Analysts: MNB will cut rate 0.20% more

Analysis

In a poll of 21 analysts undertaken by Reuters last week, a majority figured that the National Bank of Hungary (MNB) would be dropping its base rate to yet another record low, 3.60%, tomorrow.

General sentiment among the analysts was the rate-setters will be encourage to set the rate lower due to the U.S. Federal Reserve’s decision of last week to retreat from its campaign of buying up US dollar-based bonds and thus ultimately decrease the forint’s value against the dollar.

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