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Central bank cuts base rate 25 bps to 6.0%

The Monetary Council of the National Bank of Hungary (NHB) has trimmed the base rate by 25 basis points to 6.0% at its Monday meeting, in line with analysts' forecasts. This is the lowest level of the base rate in Hungary ever. The central bank has reduced rates by a total of 350 bps from 9.50% in January and has cut the base rate at every meeting since October 2004.