Rate-setters could ease monetary conditions further in light of Inflation Report

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The National Bank of Hungaryʼs (MNB) rate-setters could ease monetary conditions further, depending on inflation developments outlined in a report due out in late March, according to the condensed minutes of a policy meeting on February 23 released on March 9.

“The Monetary Council might ease monetary conditions further in view of the March Inflation Report,” according to the minutes. 

“Several members noted that the March Inflation Report would provide an opportunity for a comprehensive assessment of developments in inflation and the real economy as well as the external monetary environment. Some decision-makers indicated that the Bankʼs monetary policy tools might be reviewed and possibly fine-tuned in light of the new projection,” the minutes show.

The central bankʼs policy makers voted unanimously at the meeting to keep the base rate on hold at 1.35%, the minutes show. The Council has kept the base rate on hold since signaling an end to an easing cycle at a policy meeting in July 2015.

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