RTTNews - The Hungarian central bank reduced its key interest rate by 100 basis points on Monday.
The Monetary Council of the Magyar Nemzeti Bank slashed the base rate to 8.5% from 9.5%, with effect from July 28. Economists had expected only 50 basis point cut. The last change in rate was a 50 basis point reduction at its January meeting.
Meanwhile, the new overnight central bank deposit rate is 8% and overnight collateralised loan rate is 9%.
For comments and feedback: contact firstname.lastname@example.org