Hungary Cuts Interest Rate

Politics ♦ Published: February 26, 2013; 19:28 ♦ (Vindobona)

Due to the economic crisis, Hungary´s National Bank (MNB) has lowered the interest rate from 5.50% to 5.25%.

Hungary Cuts Interest Rate / Picture: © Hungarian Central Bank

After the interest cut, the forint fell slightly. According to economists, the interest rate will be cut further MNB is expected to stop the cuts at 4.50%. Observers say that Hungary´s government still puts pressure on MNB to continue the reduction of the interest rate. MNB´s step was expected, however. Most economists believe that Hungary´s economy will not reach the turnaround this…