National Bank of Hungary - Annual Report 2005

According to the National Bank of Hungary's Annual Report 2005, 2005 was a successful year for the Magyar Nemzeti Bank, both in terms of performing its core duties laid down by law and achieving its organisational objectives.

In December 2005, the annual inflation rate stood at 3.3 per cent, lower than the targeted 4 per cent, but within the 1 percentage point tolerance range. Annual average inflation, which rose temporarily to 6.8 per cent in 2004, due to an increase in the VAT rate, declined to

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