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Central bank base rate unchanged at 6%

The Monetary Council of the National Bank of Hungary (MNB) left the central bank base rate unchanged at 6% at its rate-setting meeting on Monday. The decision is in line with market expectations.
This is the third month passing with no change in the rate after rate reductions decided at each of the monthly rate-setting meetings between October 2004 and September this year. The base rate, which equals to the key central bank two-week depo rate, was last cut by 25bp to 6% on September 20.