Hungarian Central Bank Slashes Base Rate

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13:31 GMT

Dec 2008

Hungarian Central Bank Slashes Base Rate

(RTTNews) - The Hungarian central bank slashed interest rate as expected on Monday.

The Monetary Council of Magyar Nemzeti Bank decided to reduce the central bank base rate by 50 basis points to 10% from 10.5%, with effect from December 23.

On December 8, the central bank had slashed the base rate to 10.5%.

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