Hungarian easing shows no sign of abating
The Central Bank of Hungary cut its key policy rate for the fifteenth consecutive month yesterday, while the monetary council maintained that "further cautious easing of monetary conditions may follow".
The council began easing policy in August 2012 and cut the key rate by 25 basis points in each of the following 12 months. At the end of July 2013, Hungarian governor György Matolcsy suggested the central bank would slow, or even stop, the easing cycle.
A slight deceleration has followed. The
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