Hungary left its key interest rate unchanged for a fifth month after accelerating inflation bolstered policymakers’ bias against monetary easing in the months ahead, Bloomberg News reported. The National Bank of Hungary kept the benchmark at 6.5% on Tuesday at the last policy meeting that was chaired by Governor Gyorgy Matolcsy. The decision matched all 23 estimates in a Bloomberg survey. Annual price growth accelerated to a 13-month high of 5.5% in January, underscoring concerns that inflation expectations may stabilize at higher-than-thought levels.
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Hungary
Hungary’s central bank adopted a more hawkish monetary policy guidance after a spike in inflation and concern about the impact of geopolitical risks for the recession-hit economy, Bloomberg News reported. The National Bank of Hungary held its main interest rate at 6.5%, matching the estimate of all 25 economists in a Bloomberg survey. That left it even with Romania for the highest key rate in the European Union.
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