Central Bank of Hungary

February 27, 2018

At Magyar Nemzeti Bank, the Base Rate has been at 0.90% since a 15-basis point cut in May 2016, and the overnight deposit rate has been at minus 0.15% since a 10-basis point cut in September 2017. They will remain at those levels after the latest policy review by the Monetary Council. Although real economic growth is aligned with its estimated potential non-inflationary trend, a released statement opines that the inflation target will probably not be achieved in a sustainable way until around mid-2019. Appropriate forward guidance rhetoric and a bond purchase program will continue to be employed to maintain loose monetary conditions at both the short and long endsĀ for an extended period.”

Copyright 2018, Larry Greenberg. All rights reserved. No secondary distribution without express permission.

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