Hungary Moves Toward Accelerating Interest Rate Cuts
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Hungary’s central bank signaled it’s moving toward temporarily embracing bigger cuts to the European Union’s highest borrowing costs after a rapid slowdown in inflation, according to Deputy Governor Barnabas Virag. The forint fell against the euro.
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Published Jan 17, 2024 • 2 minute read
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(Bloomberg) — Hungary’s central bank signaled it’s moving toward temporarily embracing bigger cuts to the European Union’s highest borrowing costs after a rapid slowdown in inflation, according to Deputy Governor Barnabas Virag. The forint fell against the euro.
Policymakers will consider a full percentage point reduction to their 10.75% benchmark interest rate when they next meet on Jan. 30, in addition to the option of a fourth consecutive monthly 75 basis-point cut, Virag told reporters in Vienna on Wednesday.
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Bloomberg News
2024-01-17 04:40:24
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