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Jan 25, 2018

Hungary's benchmark base rate will remain at 0.9 percent until 2020

The National Bank of Hungary said inflation would edge upwards only gradually in Hungary, reaching the bank's 3 percent medium-term target in mid-2019

Hungary's benchmark base rate will remain at 0.9 percent until 2020, the National Bank of Hungary has announced.

According to Reuters, Barnabás Virág, managing director of the National Bank, said inflation would edge upwards only gradually in Hungary, reaching the bank's 3 percent medium-term target in mid-2019.

Virág told Figyelő that the Federal Reserve was tightening slowly, while markets expected the European Central Bank's policy to remain accommodative for a longer time, which supported having interest rates at record low levels.