Bloomberg News

Hungary Needs Wait-And-See Stance on Rates, Central Bank Says

October 25, 2011

Oct. 25 (Bloomberg) -- Hungary’s central bank considers a wait-and-see stance on monetary policy appropriate, taking into account inflation and financial market risks, the rate-setting Monetary Council said in a statement today.

The council “overwhelmingly” voted in favor of keeping the benchmark interest rate at 6 percent today, Magyar Nemzeti Bank President Andras Simor told reporters in Budapest today. The bank also considered raising the rate to 6.25 percent, he said.

Hungary can reduce the inflation rate to its 3 percent target in 2013, Simor said. A weakening of the forint may boost inflation risks, he said.

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


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