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Monetary Council cuts Hungary central bank base rate by 50bp

  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)