The Monetary Council Left the Central Bank Base Rate Unchanged

At its meeting on 19 July 2010, the Monetary Council reviewed the latest economic and financial developments and voted to leave the central bank base rate unchanged at 5.25 pct.

The Monetary Council notes with regret that the completion of the review of Hungary’s existing credit line with the IMF and the EU has been postponed, as more time is needed for the Government to draw up a program which is consistent with the approved Convergence Program and the recommendations to correct the country’s excessive deficit, while also leading to a lasting improvement in fiscal sustainability and is based on structural measures.

News Monitoring