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Hungary Central Bank Maintains Key Rate

Hungary’s central bank left its benchmark interest rates unchanged on Tuesday, as widely expected.

The Monetary Council of the Magyar Nemzeti Bank decided to hold the base rate steady 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 retained at -0.05 percent after cutting it by 10 basis points in March. The one-week collateralized loan rate was maintained at 0.90 percent.

The central bank aims to keep inflation within the range of 2-4 percent. In May, inflation had held steady at 3.9 percent.

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