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Hungary: Central bank kept the base rate on hold at 8.50%

Posted by Erste Bank der oesterreichischen Sparkassen AG in July 21st 2008  
At its today monetary meeting, the monetary council kept the base rate on hold at 8.50%, in line with market expectations. In its statements the council has maintained its relatively hawkish tone by repeating that they are committed to the 3% inflation target. Tight monetary conditions help a decline in inflation and curb the possible indirect effects of inflationary expectations. The statement again pointed out continued inflation risks, stemming from global food, oil and raw materials Read More...

Filed under: Fundamental