The National Bank of Hungary cuts base rate by 15bp, as expected

Budapest, June 23 (MTI) – The National Bank of Hungary’s rate-setting Monetary Council decided to cut the central bank’s key rate by 15 basis points to 1.50 percent on Tuesday, as expected.

At the previous policy meeting in May, the Monetary Council maintained their guidance for continued “cautious easing”.

“The overwhelming majority of decision-makers judged it necessary to maintain the previous forward guidance and agreed that cautious easing of monetary conditions might continue as long as it supports the achievement of the medium-term inflation target,” according to the minutes of the meeting.

Source: http://mtva.hu/hu/hungary-matters