Hungary central bank cuts rates further to help economy

BUDAPEST Tue Sep 25, 2012 5:37pm IST

BUDAPEST (Reuters) - Hungary's central bank cut interest rates by a quarter percentage point on Tuesday, delivering its second rate cut in just four weeks to aid the recession-hit economy.

The bank reduced its base rate to 6.5 percent in line with positioning in local markets but -- similarly to last month -- in contrast with analysts' median forecast for steady rates in a Reuters poll.

Central bank Governor Andras Simor will hold a news conference about the decision at 1300 GMT, when the bank will also release key forecasts from its fresh quarterly inflation report.

(Reporting by Krisztina Than/Gergely Szakacs)

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

Drug Pricing

REUTERS SHOWCASE

Modi Speaks

Modi Speaks

PM Modi says al Qaeda will fail in India - CNN.  Full Article 

Alibaba Listing

Alibaba Listing

Alibaba surges on massive demand in trading debut  Full Article 

Importing Rice

Importing Rice

Top rice exporter India importing over 100,000 T on temporary supply squeeze.  Full Article 

GSK Fined

GSK Fined

China hands drugmaker GSK record $489 mln fine, sentences executives.  Full Article 

HMT in Demand

HMT in Demand

Fans rush to HMT as watchmaker marks time.  Full Article 

Apple Not Cool?

Apple Not Cool?

Some consumers say Apple is losing its "cool" factor  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage