External members again dominate Hungary’s monetary council

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Four external members of the National Bank of Hungary's monetary council teamed up to outvote the central bank's governor, András Simor, and his two deputies for the third consecutive meeting on October 30.

The council voted to reduce the benchmark interest rate by 25 basis points to 6.25% – the third rate reduction by this margin in as many meetings, the minutes revealed today (November 15). On each occasion, the rate cut passed with a narrow majority of four council members to three, with the

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