June 25, 2009
At its meeting on 22 June 2009, the Monetary Council reviewed the latest economic and financial developments and voted to maintain the central bank base rate at 9.5 pct.
The Monetary Council still maintains that the Hungarian economy is undergoing a severe downturn this year. Inflation is likely to rise sharply in the short term due to indirect tax increases; however, it may be close to target on the horizon relevant for monetary policy.
