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Hungarian central bank's rate cutting cycle finished -deputy governor
May 26, 2016 / 6:51 AM / a year ago

Hungarian central bank's rate cutting cycle finished -deputy governor

BUDAPEST, May 26 (Reuters) - Hungary’s central bank has finished its interest rate cuts and wants to keep the base rate at its current 0.9 percent level “as long as possible,” National Bank of Hungary deputy governor Marton Nagy said on Thursday.

Nagy said the central bank had no exchange rate target but welcomed the stability of the forint exchange rate.

He said there was no need for any further steps in monetary policy for now.

“If we were to make a move -- which is not the case now -- then it is likely that it would be unconventional tools in the name of fine-tuning,” Nagy told reporters. (Reporting by Krisztina Than and Gergely Szakacs)

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