Hungary cuts rates by 10 bps to new low of 2.3 pct

BUDAPEST, June 24 Tue Jun 24, 2014 8:03am EDT

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BUDAPEST, June 24 (Reuters) - The National Bank of Hungary cut its base interest rate by another 10 basis points on Tuesday, bringing it to a record low 2.3 percent as evidence of falling price pressures gave it further leeway to pursue growth-friendly policies.

The 23rd successive monthly reduction in the base rate was forecast by all analysts polled by Reuters last week.

The forint traded at 305.60 versus the euro, a tad firmer than 305.70 just before the announcement.

The bank will release a statement at 1300 GMT. (Reporting by Krisztina Than)

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