October 30, 2012 / 1:05 PM / in 5 years

Hungary cuts rates by 25 bps to 6.25 percent

BUDAPEST, Oct 30 (Reuters) - Hungary’s central bank cut interest rates by another 25 basis points to 6.25 percent on Tuesday, its third reduction in as many months.

The move came despite high inflation and growing market scepticism over prospects for an International Monetary Fund/European Union financing deal.

Governor Andras Simor will hold a news conference about the decision at 1400 GMT.

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