Hungary central bank raises base rate by 100 bps to 11.75% as expected
Reuters
Published Aug 30, 2022 13:17
BUDAPEST (Reuters) - Hungary's central bank raised its base interest rate by 100 basis points to 11.75% on Tuesday to fight inflation which is seen peaking near 20% later this year, with upside inflation risks still on the rise.
Tuesday's decision was in line with the median forecast of 11 economists in a Reuters poll last week.
The bank also raised its overnight deposit rate by 100 bps to 11.25%.
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Written By: Reuters
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