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Financial News: Hungary's Central Bank Keeps Rate On Hold

Hungary's Central Bank Keeps Rate On Hold

05/28/2019 - 08:37:00 (RTTNews)

(RTTNews) - Hungary's central bank kept its benchmark interest rates unchanged on Tuesday, in line with economists' expectations.

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 kept at -0.05 percent after cutting it by 10 basis points in March. The one-week collateralized loan rate was left unchanged at 0.90 percent.

In April, inflation rose to 3.9 percent from 3.7 percent in March. The central bank targets 2-4 percent inflation.

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