MNB continues cutting, sets base rate at 1.35%

Analysis

The Monetary Policy Council (MPC) the National Bank of Hungary decided at a rate-setting policy meeting today to keep the pace of its easing cycle started in March and cut the base rate with 15 bp to 1.35%, Hungarian news agency MTI reported.

The Monetary Council issued guidance for further "slight" easing after the policy meeting in June. Earlier, the Councilʼs guidance had been for "cautious easing...as long as it supports the achievement of the medium-term inflation target", MTI said.

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