Hungary central bank widens rate corridor to create ‘room for manoeuvre’

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The Central Bank of Hungary has made its rate corridor “asymmetrical”, setting the stage for further monetary tightening, as inflation continues to climb.

Although the central bank kept its base rate on hold at 2.1% at today’s (November 30) meeting of the monetary council, it hiked its overnight deposit rate and two lending rates.

The central bank upped the overnight deposit rate by 45 basis points, to 1.6%. It also increased its overnight and one-week lending rates by 105bp, taking them both

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