Ukraine hikes rates, Serbia and Hungary hold
Worse-than-expected drought affects food inflation in eastern Europe
The central banks of Hungary, Serbia and Ukraine have all made monetary policy decisions over the past week.
Hungary: 6.5% “for an extended period”The central bank of Hungary (MNB) held its policy rate at 6.5% today (December 17).
MNB deputy governor Barnabás Virág justified the decision by highlighting investors’ declining appetite for emerging markets after the US election, as well as the lacklustre performance of Hungary’s economy.
Virág said annual inflation had risen to 3.7% in Q3, with core
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