Hungarian central bank pledges loose monetary conditions

BUDAPEST: Hungary's central bank will ensure loose monetary conditions over a prolonged period, using its existing tool set, it said on Wednesday in the minutes of its May 22 meeting.

The bank's Monetary Council kept interest rates on hold at record lows with the votes of all 7 members present at the meeting. Governor Gyorgy Matolcsy did not attend the meeting.

"The Monetary Council's guidance about the maintenance of loose monetary conditions over an extended period had remained unchanged; however, the market yield curve had shifted upwards," the bank said in the May meeting minutes.