Hungarian Central Bank Raises Interest Rate by 1.85 Percent
Posted on 06/28/2022
Magyar Nemzeti Bank (Hungarian National Bank) raised its base rate by 185 basis points to 7.75% on June 28, 2022. The Hungarian central bank is increasing its pace of rate hikes after the forint fell to a record low this week. The country is dealing with surging inflation, like its peers. This is the biggest hike since start of 2008 global financial crisis. Reported earlier in
June 2022, inflation in Hungary exceeded 10% for the first time in more than 20 years.
Keywords: National Bank of Hungary.