Hungary shaves by 50 bps as expected; widens rate corridor
The National Bank of Hungary on Monday reduced its key base rate by 50 basis points to 6.5%. It also widened the corridor around the interest rate to 100 basis points, from 50.
The central bank's Monetary Council said global risk appetite had risen significantly, causing a drop in yields required by investors for holding Hungarian financial assets. However, the central bank warned that the pace of the recent increase in risk appetite had been faster than would be justified by the improvements in
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