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MNB policy makers decide to keep rates on hold, as expected

Analysis

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

The decision was widely expected, after the rate-setters clearly signaled an end to the easing cycle at the previous monthly policy meeting.

"The overwhelming majority of decision-makers agreed that the policy rate had reached the level which ensured the medium-term achievement of the inflation target and a corresponding degree of support to the economy," according to the minutes of the July meeting.

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