Hungary cut its key interest rate for the first time in three years as it begins to dismantle an emergency monetary regime that halted a forint selloff and helped rein in runaway inflation.
The central bank lowered its overnight interest rate by a full percentage point to 17%, Governor Gyorgy Matolcsy announced during an online briefing on Tuesday. The move matched the median expectation in a Bloomberg survey. The central bank also kept its base interest rate at 13%.
Read More : Hungary Lowers Key Interest Rate, Seeking to Stimulate Economy