{"id":23983,"date":"2011-09-21T05:27:00","date_gmt":"2011-09-21T09:27:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2011\/09\/21\/magyar-nemzeti-bank-hungary-holds-rate-at-6-00\/"},"modified":"2011-09-21T05:27:00","modified_gmt":"2011-09-21T09:27:00","slug":"magyar-nemzeti-bank-hungary-holds-rate-at-6-00","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2011\/09\/21\/magyar-nemzeti-bank-hungary-holds-rate-at-6-00\/","title":{"rendered":"Magyar Nemzeti Bank (Hungary) Holds Rate at 6.00%"},"content":{"rendered":"<p><span><span><span><span>The&nbsp;<a href=\"http:\/\/www.mnb.hu\/\">Magyar Nemzeti Bank<\/a>&nbsp;<\/span><span>maintained its benchmark base rate steady at 6.00% as inflation drifted down towards its target. &nbsp;The Bank said: &#8220;In the Council&#8217;s judgement, Hungarian economic growth is likely to remain subdued over the next two years, with the level of output remaining below its potential throughout the period. Medium-term upside risks to inflation have fallen due to weak domestic demand. Inflation may fall back to 3% by the beginning of 2013, as the effects of cost shocks and increases in indirect taxes wear off.&#8221;<\/span><\/span><br \/> <a href=\"http:\/\/www.centralbanknews.info\/2011\/08\/hungary-central-bank-holds-base-rate-at.html\" name=\"more\"><\/a><span><\/span><\/span><\/span><br \/><a name='more'><\/a><span> <span><span>The Magyar Nemzeti Bank also&nbsp;kept the&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/08\/hungary-central-bank-holds-base-rate-at.html\">interest rate<\/a>&nbsp;at 6.00% during its August meeting, after raising it 25 basis points in January this year. &nbsp;Hungary reported annual inflation of 3.6% in August, compared to 3.1% in July, 3.5% in June, 3.9% in May, and 4.7% in April.&nbsp; Hungary&#8217;s Central Bank has a medium term&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/p\/inflation-targets.html\">inflation target<\/a>&nbsp;of 3%, while the Bank expects inflation to average 3.9% this year.<br \/><\/span><\/span><\/span><br \/><span>The Hungarian economy grew at an annual rate of 1.5% in the June quarter, compared to 2.4% in the march quarter, and 1.9% GDP growth recorded in the December quarter last year. &nbsp;The Hungarian forint (HUF) is roughly flat against the US dollar this year, the HUFUSD exchange rate last traded around 212.25<br \/><\/span><br \/><span><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/span><\/p>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-5239393578281925287?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Magyar Nemzeti Bank&nbsp;maintained its benchmark base rate steady at 6.00% as inflation drifted down towards its target. &nbsp;The Bank said: &#8220;In the Council&#8217;s judgement, Hungarian economic growth is likely to remain subdued over the next two years, with the level of output remaining below its potential throughout the period. Medium-term upside risks to inflation have &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2011\/09\/21\/magyar-nemzeti-bank-hungary-holds-rate-at-6-00\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Magyar Nemzeti Bank (Hungary) Holds Rate at 6.00%&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-23983","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/23983","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/comments?post=23983"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/23983\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=23983"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=23983"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=23983"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}