The building of the NBH in Budapest – Photo: wikimedia

Central bank leaves base rate unchanged, but cuts O/N collateralised loan rate

Hungarian central bank rate-setters decided to leave the base rate on hold at 13 percent, but voted to cut the central bank's O/N collateralised loan rate by 100 basis points to 19.50 percent at a monthly policy meeting on Tuesday.

The Council left the O/N deposit rate, at the bottom of the “interest rate corridor”, at 12.50 percent.

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