November 19, 2019 / 2:19 PM / 19 days ago

Hungary central bank maintains accommodative stance

BUDAPEST, Nov 19 (Reuters) - The National Bank of Hungary maintained its accommodative policy stance on Tuesday after keeping interest rates on hold as widely expected, reiterating its view that dampening European economic activity would keep a lid on domestic price pressures.

The central bank held its base rate at 0.9% and the overnight deposit rate at -0.05%, in line with the unanimous forecast of analysts in a Reuters poll.

“The effects of the slowdown in European economic activity indicate a strengthening in downside risks to the longer-term outlook for inflation,” it said in a statement.

“Future developments in the outlook for inflation will be a decisive factor in the necessity of further measures.” (Reporting by Gergely Szakacs and Marton Dunai; Editing by Alison Williams)

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