Hungary: Slower Monetary Cuts

Politics ♦ Published: December 18, 2013; 22:11 ♦ (Vindobona)

After another base rate cut, the next monetary steps will take more time.

Hungary: Slower Monetary Cuts / Picture: © MNB

After 17 consecutive base rate reductions, Hungary´s National Bank MNB will reduce the pace of further cuts. This week, MNB has lowered the two-week deposit ratio to 3.0% from 3.2%. According to MNB´s governor György Matolcsy, MNB will slow down the quantitative easing program.

According to the MNB, there is no risk of inflation. According to economists, the MNB has reached…

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