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Financial News: Hungary Central Bank Leaves Rate Unchanged As Expected

Hungary Central Bank Leaves Rate Unchanged As Expected

07/23/2019 - 08:28:00 (RTTNews)

(RTTNews) - Hungary's central bank retained its benchmark interest rates on Tuesday, as widely expected.

The Monetary Council of the Magyar Nemzeti Bank decided to hold the base rate steady at 0.90 percent.

The previous change in the rate was a 15 basis points reduction in May 2016.

The overnight central bank deposit rate was retained at -0.05 percent after cutting it by 10 basis points in March. The one-week collateralized loan rate was maintained at 0.90 percent.

Inflation remains within the central bank's target range of 2-4 percent. In June, inflation slowed to 3.4 percent.

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