September 24, 2019 / 12:07 PM / 3 months ago

Hungarian central bank keeps rates on hold, as expected

BUDAPEST, Sept 24 (Reuters) - The National Bank of Hungary (NBH) left interest rates unchanged on Tuesday, as expected, with global monetary easing and a deteriorating euro zone economic outlook outweighing considerations about a sliding forint.

Central Europe’s most dovish central bank was unfazed by the forint, which hit a record low of 336 against the euro earlier on Tuesday.

Hungary’s base rate at 0.9% is the lowest in Central Europe and the NBH is expected to keep it there in 2020 as well. The central bank’s overnight deposit rate is still in negative territory at -0.05%. (Reporting by Krisztina Than and Gergely Szakacs)

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