{"id":28612,"date":"2012-03-27T12:32:00","date_gmt":"2012-03-27T16:32:00","guid":{"rendered":"http:\/\/countingpips.com\/fx\/2012\/03\/27\/magyar-nemzeti-bank-keeps-base-rate-at-7-00\/"},"modified":"2012-03-27T12:32:00","modified_gmt":"2012-03-27T16:32:00","slug":"magyar-nemzeti-bank-keeps-base-rate-at-7-00","status":"publish","type":"post","link":"https:\/\/www.investmacro.com\/fx\/2012\/03\/27\/magyar-nemzeti-bank-keeps-base-rate-at-7-00\/","title":{"rendered":"Magyar Nemzeti Bank Keeps Base Rate at 7.00%"},"content":{"rendered":"<div align=\"right\"><script type=\"text\/javascript\">\ntweetmeme_style = 'compact';\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/tweetmeme.com\/i\/scripts\/button.js\"><\/script><\/div>\n<p><span><span><span>The&nbsp;<a href=\"http:\/\/www.mnb.hu\/\">Magyar Nemzeti Bank<\/a>&nbsp;kept its central bank base rate steady at 7.00%. &nbsp;The Bank said: &#8220;<\/span><\/span><\/span><span><span><span>The Monetary Council has decided to leave the base rate unchanged. Monetary policy can best contribute to economic growth by maintaining a predictable economic environment, ensuring price stability and preserving the stability of the financial system. High volatility of risk perceptions and underlying inflation continue to warrant a cautious policy stance.&#8221;<\/span><\/span><\/span><br \/><span><\/span><br \/><a name='more'><\/a><span>The Magyar Nemzeti Bank previously hiked the rate&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/11\/hungary-central-bank-lifts-rate-50bps.html\">50 basis points<\/a><span>&nbsp;at its November and&nbsp;<a href=\"http:\/\/www.centralbanknews.info\/2011\/12\/hungary-central-bank-raises-rate-50bps.html\">December meetings<\/a>, after last raising it&nbsp;<\/span><a href=\"http:\/\/www.centralbanknews.info\/2011\/01\/hungary-central-bank-raises-rate-25bps.html\">25 basis points<\/a><span>&nbsp;in January this year. &nbsp;Hungary reported annual&nbsp;inflation&nbsp;of 5.5% in December, up from 3.9% in October, 3.6% in September and August, 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;<\/span><a href=\"http:\/\/www.centralbanknews.info\/p\/inflation-targets.html\">inflation target<\/a><span>&nbsp;of 3%, while the Bank said annual inflation for 2011 was 3.9 percent.<\/span><a href=\"http:\/\/www.centralbanknews.info\/\" name=\"more\"><\/a><\/p>\n<div>The&nbsp;<a href=\"http:\/\/www.fundterms.com\/2011\/01\/emerging-europe.html\">Hungarian&nbsp;economy<\/a>&nbsp;grew at an annual rate of 1.4% in the September quarter, 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) has lost about 15% against the US dollar over the past year, the USDHUF exchange rate last traded around 219<\/p>\n<p><a href=\"http:\/\/www.centralbanknews.info\/\">www.CentralBankNews.info<\/a><\/div>\n<div><img loading=\"lazy\" decoding=\"async\" width=\"1\" height=\"1\" src=\"https:\/\/blogger.googleusercontent.com\/tracker\/8290544642025682538-4727951170279900769?l=www.centralbanknews.info\" alt=\"\" \/><\/div><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The&nbsp;Magyar Nemzeti Bank&nbsp;kept its central bank base rate steady at 7.00%. &nbsp;The Bank said: &#8220;The Monetary Council has decided to leave the base rate unchanged. Monetary policy can best contribute to economic growth by maintaining a predictable economic environment, ensuring price stability and preserving the stability of the financial system. High volatility of risk perceptions &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.investmacro.com\/fx\/2012\/03\/27\/magyar-nemzeti-bank-keeps-base-rate-at-7-00\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Magyar Nemzeti Bank Keeps Base Rate at 7.00%&#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-28612","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28612","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=28612"}],"version-history":[{"count":0,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/posts\/28612\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/media?parent=28612"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/categories?post=28612"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmacro.com\/fx\/wp-json\/wp\/v2\/tags?post=28612"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}