National Bank of Hungary cuts rates despite high inflation

national-bank-of-hungary

The Monetary Council of the National Bank of Hungary today (August 28) voted to cut the benchmark interest rate by 25 basis points to 6.75%, despite inflation being "higher than previously expected" in June and July.

In a statement following the decision, the central bank painted a bleak picture of the economic outlook. "In the council's judgement, economic output is likely to fall this year, with growth only expected to resume in 2013," the central bank said. The statement warned domestic

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.