The National Bank of Hungary's Monetary Council voted to leave the central bank base rate on hold at 5.25” at a meeting on Monday. The decision was in line with analysts' expectations.
The council has kept rates on hold at the last three of its monthly rate-setting meetings following a campaign of cuts started a year ago that shaved 425bp of the base rate, bringing it to a record low.
The decision on Monday followed the suspension of talks between the government and the IMF and EU on Hungary's financial aid package. The IMF-EU missions said late Saturday that the talks were suspended to give the government more time to consider unresolved issues. (MTI-Econews)