European fiscal deficits

Hungary’s Policy Interest Rate Reduced Less Than Expected

December 21, 2009

The Magyar Nemzeti Bank cut its policy rate by 25 basis points, not 50 bps as forecast, and released a statement that did not attribute the smaller move to higher on-year inflation of 5.2% in November after 4.7% in October but rather to market perceptions of fiscal risk and the forint’s associated vulnerability.  The rise […] More