Hungary central bank cuts rates further to help economy
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)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- Japan, India vow to boost strategic ties during summit
- Federer marches on as wild weather, upsets hit U.S. Open
- Govt urges Supreme Court to not cancel some 'illegal' coal mines
- Dozens arrested at Made in America music festival in Los Angeles
The Nifty surged past the psychologically important 8,000 level for the first time to mark its latest record high as blue-chips such as Larsen & Toubro gained after better than expected quarterly economic growth data. Read
Government urges Supreme Court to not cancel some 'illegal' coal mines Full Article