Sep 26
Hungary: Balanced central bank in wait-and-see mode
As both we and the consensus expected the Hungarian central bank (MNB) today left its key policy rate unchanged at 8.50%, the third successive meeting at which they have remained so after a total of 100bp in hikes since March 2008. As the following statement shows MNB was fairly balanced in its comments. In particular it said: "The monetary council sees subdued growth and slow disinflation in 2010, in line with the forecasts presented in the new inflation report. According to the base case
