Rate-setters voted 5:2 for December tightening, minutes show
The National Bank of Hungary’s Monetary Council voted 5:2 to raise the central bank’s key rate by 50bp to 7.00% at a meeting on December 20, the condensed minutes of the meeting published on Wednesday show.
MNB governor Andras Simor and deputy-governors Julia Kiraly and Ferenc Karvalits voted for the 50bp rise, as did external members of the Council Andrea Bartfai-Mager and Janos Cinkotai. Ferenc Gerhardt and Gyorgy Kocziszky voted for a 25bp increase.
Speaking at a press conference after the meeting, Mr Simor said a proposal for a 25bp rate rise was made in addition to the one for a 50bp increase. A "significant majority" of Council members voted for the 50bp increase, he added.
ADVERTISEMENT
Duna House Profit Rise 36% y.o.y.
Parl't Approves Amendments to Legislation on Judiciary
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
