Hungary continues loosening as inflation falls towards 10%

MNB cuts base rate by 75 basis points

Central Bank of Hungary
The Central Bank of Hungary

The Central Bank of Hungary (MNB) continued relaxing its monetary policy, reducing its base rate by 75 basis points, to 12.25%, at its monthly policy decision yesterday (October 24). It also reduced its overnight deposit rate and its overnight collateralised lending rate by the same degree, to 11.25% and 13.25% respectively.

In its statement, the rate-setting monetary council said “strong disinflation” allows the central bank to continue unwinding tight policies. “At the same time, a cautious

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