February 12, 2020 / 1:12 PM / 15 days ago

Hungary central bank to maintain accommodative stance -Jan minutes

BUDAPEST, Feb 12 (Reuters) - The National Bank of Hungary will maintain its accommodative monetary stance, it said in the minutes of its Jan. 28 policy meeting, when rate-setters voted unanimously to hold key rates unchanged.

“The necessity of further measures would be determined by the persistent change in the outlook for inflation, which would be monitored closely by the Monetary Council,” it said.

The panel added however that the spread of the coronavirus could increase uncertainty over the coming months, possibly leading to a deterioration in global growth prospects and an increase in risk aversion in emerging markets.

“Against this backdrop, decision-makers were unanimous in arguing that a data-driven, cautious approach should be maintained in monetary policy decisions,” it said.

The next rate meeting is due on Feb. 25. (Reporting by Gergely Szakacs and Marton Dunai)

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