Hungary continues loosening as inflation falls towards 10%
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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