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Analysts project MNB rates to remain on hold

Analysts polled by Reuters expect the Hungarian Central Bank to leave rates on hold at 9.50% at a rate-setting meeting on Monday.

A decision to keep rates on hold would be the first pause in a campaign of rate cuts started in November.

In the poll, conducted between February 16 and 18, 16 of 22 analysts said that the bank's Monetary Council would leave the base rate on hold. Five projected a 50 bp cut and one predicted a 100 bp hike.

The bank has cut rates 200bp since November, reversing much of a 300 bp emergency rate rise in October intended to make a speculative attack on the forint more expensive. (MTI – Econews)