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Hungary Central Bank Keeps Rate Unchanged Again

Hungary’s central bank left its benchmark interest rate unchanged on Tuesday, in line with economist’ expectations.

The Monetary Council of the Magyar Nemzeti Bank decided to leave the base rate unchanged at 0.90 percent.

The previous change in the rate was a 15 basis points reduction in May 2016.

The overnight central bank deposit rate was held at -0.05 percent. In March, it was cut by 10 basis points.

The one-week collateralized loan rate was retained at 0.90 percent.

The Hungarian economy grew at a robust pace pf 5.1 percent in the third quarter, supported by industry, construction and market-based services, official data showed last week.

Inflation climbed to 2.9 percent in October.

The material has been provided by InstaForex Company – www.instaforex.com