The National Bank of Hungary held the base rate at 7.75% on Monday 27 August.
The central bank said: "The Monetary Council continues to believe that the 3% medium-term target for inflation will be met in 2009."
Economic growth has slowed in the second quarter, and the central bank believes this will cause inflation to fall in the long term. But in 2008, price rises for agricultural products and oil could lead to a rise in inflation.
The central bank said it may cut rates but added that it woul