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MNI NBH WATCH: Hungary CenBank Cuts 50Bp To 7.25% As Expected

(MNI) LONDON

Second successive half-point rate cut puts National Bank of Hungary on track to hit mid-year target, but caution still key.

The National Bank of Hungary cut key interest rates by 50 basis points as expected on Tuesday to leave the base rate at 7.25%, with the growth outlook and risk perceptions strengthening and the current account balance continuing to improve.

A "careful and patient" approach to monetary policy approach remains paramount the Bank said, with risks to the inflation outlook and of financial market volatility still present. (See MNI EM POLICY: NBH Set For Second 50Bp Cut, H2 Outlook Less Clear)

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The National Bank of Hungary cut key interest rates by 50 basis points as expected on Tuesday to leave the base rate at 7.25%, with the growth outlook and risk perceptions strengthening and the current account balance continuing to improve.

A "careful and patient" approach to monetary policy approach remains paramount the Bank said, with risks to the inflation outlook and of financial market volatility still present. (See MNI EM POLICY: NBH Set For Second 50Bp Cut, H2 Outlook Less Clear)

Keep reading...Show less