Central Bank of Hungary
April 25, 2018
The latest review of Hungarian monetary policy by the central bank’s Council decided to keep their low interest rates unchanged. The overnight deposit rate has been at -0.15% since a ten-basis point cut last September, and the base rate and overnight collateralized lending rate have been at 0.90% since a 15-basis point reduction in May 2016. In a released statement this week, Council members reaffirm “maintaining the base rate and the loose monetary conditions at both the short and long ends for an extended period is necessary to achieve the inflation target in a sustainable manner.” They expect a 2% inflation target to be achieved in a sustained way around mid-2019. Growth exceeds 4.0%.
Copyright 2018, Larry Greenberg. All rights reserved. No secondary distribution without express permission.
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