Hungary holds key interest rates steady

The National Bank of Hungary left its key interest rates unchanged at 11.5 per cent on Monday.

The central bank is under strong political pressure to cut interest rates to help stimulate the Hungarian economy. However, large current account and budget deficits have made the central bank cautious about moving too quickly.

Last year, the central bank was forced to raise interest rates by 6 percentage points to fend off an attack on the Hungarian currency, the forint, by international currency spe

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