Central Bank Watch
Latest Hungarian Monetary Policy Statement
July 24, 2012
By split decision, policymakers at Magyar Nemzeti Bank agreed to an unchanged Base Rate of 7.0% today. A released statement projected negative GDP growth this year but also noted that CPI inflation of 5.6% in the twelve months to June exceeded their expectation. Financial markets remain fragile, and Hungary is vulnerable to fallout from the […] More
New Overnight Developments Abroad - Daily Update
Europe Gets More Bad News
July 24, 2012
Flash purchasing manager estimates for Euroland in July were released, showing an unchanged composite score of 46.4, suggesting that GDP may contract by 0.6% in the third as well as second quarters of 2012. The Moody’s rating agency lowered rating outlooks on Germany, the Netherlands, and Luxembourg to negative, citing a greater risk that Greece […] More
