Hungary continues campaign of rate hikes

MNB ends asset purchase programme, as inflation rises above 7%


The Central Bank of Hungary (MNB) raised its main policy rate 30 basis points to 2.1% on December 14, in a bid to tackle surging inflation.

The MNB monetary council also increased the overnight deposit rate 80bp to 2.4%. This was the seventh time this year it had increased each rate.

The nine-member monetary council argued high inflation, robust domestic growth, and developments in the eurozone and the US justified further policy tightening. “The risks to inflation continue to be on the upside

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