Magyar Nemzeti Bank Cuts Reserve Requirement

October 25, 2016

Hungary’s central bank left its base rate at 0.90% and its overnight deposit rate at -0.05% but cut its overnight lending rate by 10 basis points to 1.05% and its reserve requirement in half to 1%. A released statement¬†projects growth around 3%, observes continuing spare capacity and sub-target inflation, and predicts a gradually rising inflation rate that doesn’t return to the 3% target until mid-2018.

Copyright 2016, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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