Hungary close to end of easing campaign as it cuts rate by 50bp

Vice-governor Virág hints at “one more cut” in June

Hungarian National Bank

The Central Bank of Hungary (MNB) cut its policy rate by 50 basis points on May 22, after inflation declined to 3.7% in April, the central bank announced.

This is the eighth consecutive rate cut from a peak of 13% in September 2022. The new base rate is 7.25%, while the deposit rate is 6.25% and the collateralised lending rate is 8.25%.

The monetary council of the MNB came to the decision in a unanimous vote, vice-governor Barnabas Virág said. He added that the data suggests one more rate cut will

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