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Hungary central bank cuts base rate by 25bp, in line with expectations

The Monetary Council of the National Bank of Hungary decided at a meeting on Monday to lower the base rate by 25bp to 5.25%, in line with market expectations.

The Council has cut the base rate a combined 425bp at each of its meetings since July, bringing it to a historical low.

The decision came a day after opposition Fidesz won a two-thirds majority in general elections, putting Hungary's next government in a position to carry out sweeping structural reforms, causing the country's risk premium to fall and the forint to firm, some analysts said. (MTI-Econews)