Hungary likely to miss inflation target - governor

Hungary's central bank is likely to undershoot its inflation target, admitted the governor, Andras Simor.

In an interview with Reuters, a news agency, Simor said that there was a "good chance" the central bank will "significantly undershoot" the target of 3% over a time horizon of 1.5-2 years.

November's figure of 4.2% represents a significant fall from rates of 8-9% seen at the beginning of 2007.

The interview was released the same day as the central bank's Monetary Council met in a non-rate-se