Hungary holds rates amid continuing upside risks to inflation
MNB points to geopolitical and trade uncertainty in explaining first policy decision under new governor
Hungary’s central bank yesterday (March 25) held its base rate at 6.5% in its first monetary policy decision since Mihály Varga took over as governor.
The Central Bank of Hungary (MNB) also held its overnight deposit rate at 5.5% and its overnight collateralised loan rate at 7.5%.
In a statement, the bank’s monetary council pointed to “overall upside risks to inflation”.
“A careful and patient approach to monetary policy remains necessary due to upside risks to inflation as well as trade policy and
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