Magyar Nemzeti Bank

Magyar Nemzeti Bank Retains Loose Policy

March 28, 2017

Hungary’s monetary policy interest rate has been at 0.90% since a 15-basis point reduction in May 2016 and continues to be augmented by unconventional stimulus. A policy statement released today by the Monetary Council indicates a continuing intention to use these multiple means to secure the inflation target of 3% in a sustainable way by […] More

Magyar Nemzeti Bank Keeps Hungary’s Base Rate at 0.90%

February 28, 2017

Between August 2012 and May 2016, Hungary’s central bankers reduced their Base Rate from 7.0% to 0.90%. The last eight changes, five in 2015 and three last year, were each 15 basis points in size. CPI inflation remains below the 3% target and is not expected to reach that level until sometime in the first […] More

Magyar Nemzeti Bank

January 24, 2017

Hungary’s central bank base rate has been at 0.90% since a third consecutive monthly cut 0f 15 basis points administered last May. Officials voted at this month’s meeting not to change the rate. While discussing circumstances that might warrant a further easing in the future through unconventional means, a released statement makes no asymmetric hint […] More

Hungarian National Bank

September 20, 2016

The Base Rate of Magyar Nemzeti Bank was left unchanged as expected at September’s monetary council meeting. It’s been 0.90% since three consecutive monthly reductions in March-through-May of 15 basis points. Earlier it was cut incrementally from 7.0% starting in August 2012 to 2.1% by July 2014 and additionally by 15 bps each in March-through-July […] More

Magyar Nemzeti Keeps Loose Stance but Doesn’t Augment Such

August 23, 2016

Hungary’s Base Rate has been 0.90% since three consecutive reductions of 15 basis points earlier this year in March, April and May. From August 2012 to July 2014 the rate had been slashed to 2.1% from 7.0%, and its was redued by a further 75 basis points between March and July of 2015. Today’s statement […] More

No Change Made to Hungary’s Central Bank Base Rate

July 26, 2016

Officials at Magyar Nemzeti Bank have used the opportunity of persistent, extensive unused capacity and a lack of pricing pressure to loosen monetary progressively.  Their main interest rate was reduced 490 basis points to 2.1% during the two years ending July 2014.  Five additional 15-basis point cuts were done last year at successive meetings from March through […] More

Hungarian Interest Rates Left Unchanged

June 21, 2016

Hungary’s Base Rate was lowered 490 basis points to 2.1% between August 2012 and July 2014, 65 basis points further to 1.35% between March and July of 2015, and by 15 basis points a month to 0.90% in March, April and May of this year.  A statement released after this month’s decision to leave that […] More

Magyar Nemzeti Bank

May 24, 2016

Hungary’s Base Rate was cut to 0.90% from 1.05% in a third consecutive reduction of 15 basis points.  The overnight lending rate also got sliced by 15 basis points, while the overnight deposit rate was retained at -0.05%.  More important, a statement from Hungary’s Monetary Council signaled an end to the latest string of base […] More

Another 15-Basis Point Central Bank Rate Cut in Hungary

April 26, 2016

Magyar Nemzeti Bank cut its base rate to 1.05% from 1.20%.  The rate had been frozen at 1.35% from July 2015 until last month’s meeting when a similar-sized rate cut was implemented in conjunction with a significant downwardly revised inflation projection.  A statement released today concludes that “the sustainable achievement of the inflation target points […] More

Magyar Nemzeti Bank Cuts Hungary’s Central Bank Interest Rates

March 23, 2016

The Bank Rate had been cut by 490 basis points between August 2012 and July 2014 to 2.10% and by an additional 75 basis points in 15-bp increments from March 2015 through July 2015 but paused at 1.35% thereafter until now.  Easing was resumed at this month’s meeting of the Monetary Council, and the amount […] More