Policy makers leave rates on hold

bk_The Monetary Council of the National Bank of Hungary (NBH) decided to keep the central bank base rate at 0.90pc and the O/N deposit rate at -0.05pc at a monthly policy meeting on Tuesday.

The Council also decided to leave the central bank’s O/N and one-week collateralised loan rates unchanged at 1.85pc.

The O/N deposit rate and the collateralised loan rate mark the bottom and the top, respectively, of the central bank’s “interest rate corridor”. The base rate is paid on mandatory reserves and preferential deposits.