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National Bank Leaves Base Rate On Hold At 0.60%

• 28 Apr 2021 11:19 AM

Hungarian rate-setters decided to keep the base rate on hold at 0.60% in a regular meeting. The Monetary Council also left the rate corridor unchanged, the National Bank of Hungary (NBH) said.

The primary objective of the Magyar Nemzeti Bank (MNB) is to achieve and maintain price stability.

Without prejudice to its primary objective, the Magyar Nemzeti Bank preserves financial stability and supports the Government’s economic policy.

Global macroeconomic and financial market developments continue to be primarily driven by the events related to the coronavirus pandemic.

The timing of the reopening largely depends on the course of the third wave of the pandemic and the population’s vaccination coverage rate.

However, vaccination has progressed more slowly than expected in most countries, and consequently there remains an exceptionally high degree of uncertainty surrounding the pace of global economic recovery.

Read the full report by clicking here on National Bank's website

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