Dear Guest! If you find an error on the page or you have any technical question please call the customer service center. Phone number is 06-80-203-776. The Central Bank of Hungary.

Magyar Nemzeti Bank lowers base rate


2 December 2002

At its meeting held on 16 December 2002, the Monetary Council has reduced the central bank base rate by 50 basis points, from 9.00% to 8.50%. The decision will take effect from 17 December 2002. The recent appreciation of the forint exchange rate has led to a tightening of monetary conditions. The rate reduction by the ECB on 5 December has added to excess returns earned on forint-denominated investments. In addition, the agreement concluded on the criteria of Hungarian accession to the European Union will likely reduce the required risk premium on forint-denominated investments. In the Monetary Council's evaluation, the current rate reduction will not impede the implementation of MNB's inflation objectives.

This website uses cookies to provide a more convenient browsing experience. By using this website, you accept the use of cookies. Please read our Cookie Guidelines, for more information on cookies, including information on how to disable or delete them.I accept

Please be informed that our Data Protection Guidelines were changed to be compliant with data protection laws.I understand