Hungary continues reversal of drastic hike

The National Bank of Hungary took another step towards reversing its 300 basis-point October hike on Monday, cutting its key rate by a half point.

The cut leaves the benchmark central bank base rate at 10.5%.

The cut, which surprised market analysts, came on the back of improvements to the economic outlook.

The central bank said: "There has recently been an improvement in sentiment towards the Hungarian economy and uncertainties related to external financing have diminished significantly, due to

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