Hungary: Monetary Council raises base rate 50bp to 8.0%

EU

The Monetary council of the National Bank of Hungary (MNB) decided at a meeting on Monday to raise the central bank base rate by 50bp to 8.00%.

Before the meeting, analysts were divided over whether the bank would raise rates 25bp of 50bp. At the previous rate-setting meeting on February 25, four members voted for a 25bp rate rise and eight members voted to keep rates on hold. The council also voted to abolish the forint’s intervention band. The central bank base rate has been at its current level of 7.50% since September 25, 2007.The forint traded at 259.34 per euro by 2:20 p.m. in Budapest, after earlier dropping to 260.97, from 257.06 March 28. (MTI-Econews)

ADVERTISEMENT

Industries lose billions on counterfeit products Analysis

Industries lose billions on counterfeit products

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

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.