Bloomberg News

Hungary Central Bank Voted 6-1 to Hold Rates at 6% in September

October 05, 2011

Oct. 5 (Bloomberg) -- Hungarian policy makers voted six to one last month to keep the benchmark interest rate unchanged at 6 percent, according to the minutes of the meeting published today.

Magyar Nemzeti Bank Vice President Julia Kiraly voted to raise the two-week deposit rate to 6.25 percent, according to the minutes, which were posted on the central bank’s website.

The majority of policy makers considered that the deteriorating global risk environment is preventing policy makers from cutting the interest rate even as the inflation outlook may justify such a move, the minutes said.

To contact the editor responsible for this story: Zoltan Simon at zsimon@bloomberg.net


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