Hungary leaves interest rates steady

The National Bank of Hungary left interest rates unchanged Monday and issued a warning about inflationary pressures in the economy.

Interest rates in Hungary stand at 11.5 percent, a level which many local politicians have said is stifling domestic investment. The central bank, however, said May inflation figures had come in higher than expected at 7.6 percent year-on-year.

The central bank has already cut interest rates earlier this year.

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