The Central Bank of Hungary (MNB) has continued to loosen policy by enacting a 25 basis point cut.
MNB governor Mihály Varga announced today (July 21) that it was easing the policy rate from 6% to 5.75%, a four-year low. He said the bank’s monetary policy committee (MPC) had reached the decision unanimously.
Varga justified the decision by saying annual inflation had dropped from 1.8% in May to 1.7% in June, while core inflation had remained unchanged at 2%. The MNB targets 3% annual headline
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