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MNB leaves key rate on hold for ninth month in a row

The Monetary Council of the National Bank of Hungary voted to keep the central bank's key rate on hold at 6% at a meeting on Tuesday, the MNB said.

Council members kept the rate on hold for the ninth month in a row.

The decision was in line with market expectations.

At a press conference after the meeting, MNB governor Andras Simor said the decision to keep the rate on hold was supported by a vast majority of members. There was only one other proposal, for a 25bp rate rise, he added.