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The National Bank of Hungary’s (MNB) Monetary Council decided to cut the key central bank base rate by 50bp to 10.00% at a rate-setting meeting on Monday.
The decision is in line with the most analysts’ expectations. The cut is the third 50bp rate reduction since an out-of-schedule emergency 300bp rate rise on October 22 intended to fend off a speculative attack on the forint.
The NBH cut its key rate 50bp at a regular rate-setting meeting on November 24, and reduced it by another 50bp at a scheduled, but non-rate-setting meeting on December 8. (MTI-Eco)