Article Tools

Hungary: Another Base Rate Cut

Published: August 31, 2013; 18:15 · (Vindobona)

Hungary´s National Bank (MNB) has cut the base rate from 4.00% to 3.80%. This is a new record low. Nevertheless, MNB was expected to decide a lower cut.

Hungary: Another Base Rate Cut / Picture: © Hungarian Central Bank

In August 2012, Hungary´s base rate still stood at 7.00%. In order to boost the shrinking economy, MNB has lowered the policy rate drastically since then. This time, the base rate was cut by 20 bps to 3.80%. Due to the increasing volatility in emerging countries, the base rate cut not as deep as in the last months. Analysts commented that MNB´s monetary policy council became more…

This article includes a total of 277 words.

or Log In