Financial News: Hungary Keeps Rates Unchanged Again

Hungary Keeps Rates Unchanged Again

11/18/2025 - 15:54:00 (RTTNews)

(RTTNews) - The Hungarian central bank retained its key interest unchanged again in a bid to preserve stability in prices as well as financial markets amid risks and geopolitical uncertainty.

The Monetary Council of the Magyar Nemzeti Bank, led by Governor Mihály Varga, kept the base rate steady at 6.50 percent, in line with expectations. The previous change in the benchmark rate was a quarter basis points reduction in September last year.

The overnight deposit rate was left unchanged at 5.50 percent and the lending rate at 7.50 percent.

"A careful and patient approach to monetary policy remains necessary due to risks to the inflation environment as well as trade policy and geopolitical tensions," the MNB said. "In the Council's assessment, maintaining tight monetary conditions is warranted."

Consumer price inflation in the country held steady at 4.3 percent for the third straight month in October.

The central bank expects inflation to ease into the tolerance band by the end of the year and slow further at the start of next year.

"The 3 percent inflation target can be achieved in a sustainable manner by ensuring tight monetary conditions," the bank said. "In the current economic situation, maintaining the stability of the foreign exchange market is of key importance in reducing inflation expectations."

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