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: Hungary Central Bank Lowers Key Policy Rate As Expected (RTTNews) - Monday, the Hungarian central bank lowered its key policy rate by 50 basis points in November. The rate cut came in line with economists' expectations. The Monitory Council of Magyar Nemzeti Bank slashed its base rate to 6.5% from 7%, with effect from November 24. In October, the central bank had reduced their interest rate by 50 basis points from 7.5%. Meanwhile, the new overnight central bank deposit rate is 5.5% and overnight collateralised loan rate is 7.5%. Hungary's GDP decreased at a slower pace in third quarter. The gross domestic product or GDP dropped a seasonally adjusted 1.8% sequentially in the third quarter, compared to the 2% fall in the previous quarter. Year-on-year, the GDP fell 7.2% in the third quarter, compared to the 7.5% decline in the previous quarter. Inflation rate eased further in October. The consumer price index rose 4.7% year-on-year in October, after a 4.9% rise in the previous month. |
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