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Hungary CB Rate on Hold

Hungary CB Rate on HoldHungary CB Rate on Hold

The Monetary Council of the National Bank of Hungary, or MNB, decided to keep the central bank?s key rate on hold at 0.90% at its rate-setting meeting on Tuesday, as expected.  Analysts cited by state news wire MTI, however, envisage tightening in 2018. 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. However, rate-setters have made use of “unconventional, targeted” instruments to ease monetary policy further, such as placing a limit on the central bank’s main instrument for sterilizing liquidity, as well as modifying the interest rate corridor.

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