Magyar Nemzeti Bank

Central Bank of Hungary

May 24, 2017

The policy interest rate of Magyar Nemzeti Bank has been just 0.90% since a trio of cuts in March, April and May of 2016. A statement of the latest review defends the appropriateness of continuing that level and warns that “if inflation remains persistently below the target, the Council will stand ready to ease monetary […] More

Central Bank of Hungary

April 25, 2017

At this month’s meeting of Hungary’s Monetary Council, officials left interest rates including the 0.90% Base Rate unchanged as expected. The rate was slashed from 7.0% prior to August 2012 to 2.1% over the ensuing two years, reduced by a further 75 basis points in March-July of 2015 and again by 45 basis points in three […] More

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