Hungary: MNB Cuts Interest Rate by 0.25 %

People ♦ Published: April 23, 2013; 15:26 ♦ (Vindobona)

The Central Bank of Hungary (MNB) has cut interest rates by a quarter percentage point for the ninth month running.

Hungary: MNB Cuts Interest Rate by 0.25 % / Picture: © Wikipedia /

The measure takes advantage of the current record low inflation to support the government’s attempts to get Hungary out of recession. Further cuts are expected this year.

There have been speculations about Govenor György Matolcsy’s decision to cut the interest rate by half a percentage point since he had announced to use “creative financial instruments” in order to try…