Hungary Cuts Interest Rates Again

Politics ♦ Published: October 31, 2012; 17:26 ♦ (Vindobona)

The Council of Hungarian National Bank, which is dominated by representatives of the Hungarian government decided to cut the base rate from 6.50% to 6.25%.

Hungary Cuts Interest Rates Again / Picture: © Hungarian Central Bank

MNB cut the interest rate for the third time in a row. In August, the rate was lowered from 7.00% to 6.75%. One month later, the rate dropped again by 0.25%. Now, the Hungarian National Bank (MNB) lowered the base rate by another 25 basic points. Obviously, the Hungarian government tries to stimulate economic growth by all means. However, the current 6.25% rate is still the highest in…