Hungary keeps interest rate at 0.9%

Posted on November 22, 2016

The National Bank of Hungary has left its benchmark interest rate on hold at a record low of 0.9 per cent, as economists had predicted.

The central bank cut rates to 0.9 per cent in May, and has stated its wish to keep them steady for “an extended period” after making five changes since the start of 2015.

Hungary’s economy is forecast to grow by 2.1 per cent this year and 2.6 per cent in 2017, above the EU average, and last week the government said it will cut its corporate tax rate to the lowest level in the EU in an attempt to attract more foreign direct investment.

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