September 19, 2017 / 12:08 PM / in a month

Hungary cuts overnight deposit rate by 10 bps to -0.15 pct

BUDAPEST, Sept 19 (Reuters) - Hungary’s central bank cut its overnight deposit rate by 10 basis points to -0.15 percent on Tuesday, easing monetary conditions further in a widely expected move to combat what it sees as a benign underlying inflation outlook.

The bank left its base rate on hold at a record-low 0.9 percent, in line with analyst forecasts in a Reuters poll last week as well as a pledge by the central bank to loosen monetary conditions with tools other than the base rate.

At 1202 GMT, the forint traded at 309.31 versus the euro, a touch stronger than 309.35 just before the announcement.

The NBH will publish fresh inflation and economic growth forecasts at 1300 GMT, when it could also unveil additional easing steps to boost market liquidity. (Reporting by Gergely Szakacs and Krisztina Than)

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