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May 01, 2019

National Bank of Hungary keeps base rate on hold at 0.90 percent

The central bank’s Monetary Council has decided to keep the bank’s base rate on hold at 0.90 percent

The central bank’s Monetary Council has decided to keep the bank’s base rate on hold at 0.90 percent.

During a monthly policy meeting on Tuesday, the Council also left the O/N central bank deposit rate at -0.05 percent.

The Council has left the base rate on hold since signaling an end to an easing cycle at a policy meeting in the spring of 2016. At the previous policy meeting, the Council raised the O/N deposit rate by 10 bp, marking the first policy tightening in years.