Central Bank of Hungary rate cut streak hits 23


The Central Bank of Hungary continued its monetary easing cycle today, cutting its benchmark interest rate for the 23rd month in succession – though the end of the cycle might now finally be in sight.

The central bank's monetary council has cut rates every month since August 2012, on account of "subdued" medium-term inflationary pressures and the degree of spare capacity in the economy.

Since starting the easing cycle the council has cut its benchmark rate from 7% to 2.3%, though this has

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