The decision was widely expected, after the rate-setters clearly signaled an end to an easing cycle at a policy meeting in July.
The minutes offered some background to a statement released immediately after the meeting in which the Council said the base rate could remain at its record low level over the entire period affected by monetary policy.
“A consensus was reached that the Monetary Council should signal that it might keep the policy rate unchanged over the entire forecast horizon by further specifying its forward guidance,” according to the minutes.
The minutes confirmed that the Council “agreed that, if the assumptions underlying the projection in the September Inflation Report held up, the current level of the base rate and maintaining loose monetary conditions over the entire forecast horizon were consistent with the medium-term achievement of the inflation target and a corresponding degree of support to the economy”.
Producing journalism that is worthy of the name is a costly business. For over 30 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.
