MNB Cuts Rates
Hungary's central bank cuts interest rates, sees room for further cuts if conditions persist
Committed to achievement of inflation target in a sustainable manner - - Decision on their continuation to be made based on the September inflation report - - Global risk environment has become more favorable - - Baseline scenario in the June forecast is surrounded by balanced inflation and upside growth risks - - Stronger forint, as well as the decline in energy and food prices has resulted in lower inflation - - Stronger forint curbs price growth - - EU funds can boost investments from next year - - Productivity needs to improve - - Varga: Sees three rate cuts of 25 bps each over summer. 9%