• The February 2004 Quarterly Report on Inflation, discussed and approved by the Monetary Council, is accessible on the MNB’s website. The Council is releasing its assessment related to the Report in a separate press statement.
  • At its meeting on 23 February 2004, the Monetary Council considered the latest economic and financial developments and left the central bank base rate at 12.50%.

The Council is confident that Hungary’s risk assessment may improve if the country’s macroeconomic balance improves as expected and fiscal consolidation continues in a consistent manner. In the Council’s view, easing uncertainty in the market has key importance in bringing expectations into harmony with the inflation objective.