Hungarian central bank raises policy rates

Central Bank of Hungary
The MNB
Yelkrokoyade/Wikimedia

The Central Bank of Hungary’s monetary policy council (MPC) has raised its main policy rate for the first time in approximately a decade.

The MPC voted to increase the MNB’s base rate by 30 basis points to 0.9% at its meeting on June 22. It said this was the beginning of a cycle of interest rate rises, to ensure price stability and re-anchor inflation expectations. The MPC kept the central bank’s other three policy rates unchanged.

Official figures show Hungarian inflation has risen sharply

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