Hungary holds rates for 10th consecutive time
Economy continues to stagnate despite rising household lending
Hungary’s central bank held rates today (July 22). The base rate will remain at 6.5%, the overnight deposit rate will stay at 5.5% and the overnight collateralised loan rate will be 7.5%.
At the press conference to announce the decision, the governor of the Central Bank of Hungary (MNB) Mihály Varga repeatedly highlighted the uncertainty plaguing the “global environment”, which he said was constraining Hungarian exports. He added that annual inflation had risen to 4.6% in June from 4.4% in May
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