The Monetary Council of the Hungarian National Bank cut the base interest rate by another 15 points at its June meeting, with an end result of 1.5%. This is another “high” score in the who-knows-how-long series. However, it is still not the end of the reduction cycle.
The most recent reduction seemed like a done deal, until storm clouds gathered in the past few days due to the “Grexit” scenario (that`s “Greek exit”, to the laymen). When the Greek government finally gave in, the doubts disappeared: the National Bank (MNB) base interest rate was cut by another 15 points to 1.5% …read more
Source: The Budapest Times