Hungarian Central Bank Cuts Base Rate Again

Politics ♦ Published: July 23, 2013; 18:08 ♦ (Vindobona)

At its meeting on 23 July 2013, the Monetary Council reviewed the latest economic and financial developments and voted to reduce the central bank base rate by 25 basis points from 4.25% to 4.00%, with effect from 24 July 2013.

Hungarian Central Bank Cuts Base Rate Again / Picture: ©

In the Council’s judgement, Hungarian economic growth is likely to resume this year following last year’s recession. The level of output remains below its potential and unemployment exceeds its long-term level determined by structural factors. The Council expects weak demand conditions to persist, which will ensure that inflationary pressures in the economy remain muted in the…