MNB keeps base rate on hold, as expected

Interview

Image by Jessica Fejos

The National Bank of Hungaryʼs (MNB) Monetary Council decided to keep the central bankʼs key rate on hold at 1.35% at a policy meeting today.

(Photo: Jessica Fejos)

The decision was widely expected, after the rate-setters clearly signaled an end to an easing cycle at a policy meeting in July.

After a policy meeting in September, the Council suggested loose monetary conditions could be maintained longer than expected in light of the central bankʼs updated projections that put CPI lower than earlier forecast in both 2015 and 2016.

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