Hungarian inflation bound for 3% target after central bank cuts again
Hungarian inflation is on course to hit its 3% target level in the medium term, according to the National Bank of Hungary, which this week cut its benchmark interest rate by 25 basis points for the 11th successive meeting.
The central bank has now decreased its benchmark interest rate from 7% to 4.25% since August 2012, while inflation has fallen from 6% to 1.8% over the same period.
Despite the steady stream of easing, the central bank's monetary council believes short-term inflation will
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