November 8, 2017 / 1:14 PM / in a year

Hungary cbank left rates on hold in unanimous Oct vote -minutes

BUDAPEST, Nov 8 (Reuters) - Hungary’s central bank left interest rates on hold in a unanimous vote last month, the bank said in the minutes of its October 24 meeting on Wednesday.

The Monetary Council made the decision in a 7-0 vote, while Governor Gyorgy Matolcsy and Deputy Governor Marton Nagy were not present.

“Decision-makers agreed that driving down long-term yields and thereby reducing the steepness of the yield curve were essential for the future,” the minutes said.

“During the discussion, they concluded that a wide range of tools might be available. And, consistent with this, they considered which tools were worthwhile to use to achieve the intended effect.” (Reporting by Gergely Szakacs and Sandor Peto)

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