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Monetary Council votes 8:2 for extraordinary 50 bps rate cut

Monetary Council of Hungary’s Central Bank (MNB) voted 8:2 to lower the bank's key rate 50 basis points (bp) to 10.50% at a non-rate-setting meeting on December 8, the condensed minutes of the meeting published on Friday reveal.

Tamás Bánfi, Vilmos Bihari, Csaba Csáki, Ilona Hardy, Júlia Király, György Kopits, Judit Neményi and governor András Simor voted to cut the rate 50 bp.

Péter Bihari and Gábor Obláth voted to keep rates on hold. (MTI – Econews)