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National Bank of Hungary keeps rates on hold at 6.00%

The National Bank of Hungary's Monetary Council decided on Monday to keep the central bank's key rate on hold at 6.00%, in line with market expectations.

The decision marked the third time in a row rate-setters left the base rate unchanged, following a tightening cycle started in November.

This was the first rate-setting meeting attended by all four new members of the Monetary Council, elected by parliament in March.

Speaking at the press conference following the meeting, central bank governor Andras Simor said there was only one proposal at the meeting and the vote was accordingly unanimous.