Hungary cuts base interest rate to 2.1%

Hungary’s central bank (MNB) has cut its main interest rate to the record low of 2.1 per cent, marking the end of a two-year-long monetary easing cycle.

22nd July, 2014
The reduction is twice what analysts had predicted last week.

Hungary’s central bank (MNB) has cut its main interest rate to the record low of 2.1 per cent, marking the end of a two-year-long monetary easing cycle.

The bank said the base rate has reached the level which ensures the medium term inflation goal of 3 per cent and continued economic growth.

Hungary suffered its second recession in four years in 2012, but began to rebound last year.

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