September 25, 2012 / 12:11 PM / 5 years ago

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below