The Hungarian central bank left its key interest rate unchanged on Tuesday, but slashed the overnight lending rate, which was raised significantly in October last year amid the financial market turbulence, as policymakers assessed that the inflation risks are manageable and the financial market concerns have subsided.
The Monetary Council of the Magyar Nemzeti Bank, led by Governor Gyorgy Matolcsy, left the base rate unchanged at 13.00 percent, in line with economists' expectations. The overnight deposit rate was held at 12.50 percent.
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by Jyotsna V
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