Hungary Central Bank Keeps Rates On Hold

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Hungary’s central bank left its key interest rates unchanged as widely expected after lowering the rates twice this year.

The Monetary Council of the Magyar Nemzeti Bank on Tuesday decided to hold the base rate at 0.60 percent.

The bank had reduced the rate by 15 basis points each in June and July. The rate cut in June was the first in more than four years.

The overnight central bank deposit rate was retained at -0.05 percent and the one-week collateralized loan rate was maintained at 1.85 percent.

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