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Hungary Central Bank Keeps Rates Unchanged

Hungary's central bank maintained its benchmark interest rates, as widely expected, on Tuesday.

The Monetary Council of the Magyar Nemzeti Bank decided to leave the base rate unchanged at 0.90 percent.

The previous change in the rate was a 15 basis points reduction in May 2016.

The overnight central bank deposit rate was held at -0.05 percent after cutting it by 10 basis points in March. The one-week collateralized loan rate was retained at 0.90 percent.

Inflation eased to a five-month low of 3.3 percent in July. This was within the central bank's target range of 2-4 percent.

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