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Hungary: Simor Criticizes Interest Cut
Politics ♦
Published: September 26, 2012; 21:30 ♦ (Vindobona)
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The governor of Hungary´s National Bank Andras Simor warns of an increase in inflation.
Hungary: Simor Criticizes Interest Cut / Picture: © Hungarian Central Bank
After the Hungarian economy dropped by 1.3% in the second quarter of 2012 against the reference period of 2012, the Hungarian Central Bank lowered the bank interest rate from 7.00% to 6.75% in August 2012. This cut came rather as a surprise.
In January, the Hungarian National bank has cut the base rate from 7.00% to 6.75%. Before, the base rate stood at 7.00% for years. Now, the…
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