The monetary policy committee of the Central Bank of Hungary (MNB) voted to reduce the base rate to 7.75% on April 23, citing growth opportunities in the second half of the year.
The move was the seventh consecutive rate cut, following a peak of 13% in September 2022 after inflation climbed to 25% in 2022. The MNB also adjusted the deposit rate to 6.75% and the collateralised lending rate to 8.75%.
The central bank targets 3% inflation with a 1% band. The central statistics agency of Hungary said
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