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Business

Hungary central bank keeps one-week deposit rate unchanged at 0.75%

  • Hungarian inflation slowed across the board in September, easing some concerns about inflation.
15 Oct 2020

BUDAPEST: Hungary's central bank kept the interest rate on its one-week deposit facility unchanged at 0.75% on Thursday.

Hungarian inflation slowed across the board in September, easing some concerns about inflation.

However, the forint had surrendered its gains posted after the data and on Thursday plumbed fresh two-week lows past 365 per euro.

At 0951 GMT, the unit traded at 364.64 per euro, unchanged from levels just before the rate announcement, but still some half a percent weaker on the day.

The forint has fallen about 9% versus the euro this year, underperforming the region.

Of the eight economists who gave a forecast for the one-week deposit rate at the end of next month in a Reuters poll, six said it would stay at 0.75%, with two analysts projecting another 15-basis-point increase over the coming weeks to 0.9%.