Rate round-up: Hungary, Israel hold on uncertainty


The National Bank of Hungary on Monday opted to leave the central bank base rate unchanged at 5.25%.

The rate-setting council said the Hungarian economy may begin to emerge from recession in 2010; but that it expected the level of output to be below potential throughout the entire forecast period, with unemployment likely to remain elevated for some time.

The central bank said the extent to which persistently low demand will reduce the pass-through of cost shocks was a source of uncertainty in as

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