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Hungary Slashes Rates as Inflation Hits Decade Low
25 Aug
Summary
- Hungary's central bank cut its benchmark interest rate by a quarter-point.
- The interest rate reduction brings the benchmark rate down to 5.5%.
- Inflation in Hungary has reached its lowest point in ten years.
The National Bank of Hungary has enacted its third successive interest rate reduction. On Tuesday, the central bank decreased the benchmark rate by a quarter-point, setting it at 5.5%.
This monetary policy adjustment aligns with the consensus of twenty economists surveyed by Bloomberg. The decision closely follows a significant decline in Hungary's inflation rate.
Inflation in Hungary has now reached its lowest point in the past ten years. This marks a sustained period of easing price pressures for the nation's economy.
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