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Driven by rising food prices, Hungary's inflation rate in October increased more than economists forecast. Inflation there accelerated to 4.2 percent from 3.8 percent in September.
But, the central bank, which has a target of 3 percent inflation, still kept the benchmark interest rate unchanged at 5.25 percent for a sixth month.
However, Serbia's central bank raised its benchmark interest rate to 10.5 percent, the highest rate in Europe to fight inflation and pressures stemming from a weakening dinar.
It was an unexpected one percentage-point increase and the its fourth in four months.
Serbian inflation equaled an annual 9.9 percent rate in October. The bank has an inflation target of 4.5 percent, plus or minus 1.5 percentage point.
FOR SERBIA RATE STORY, SEE :
http://www.bloomberg.com/news/2010-11-11/serbian-central-bank-board-raises-europe-s-highest-benchmark-rate-to-10-5-.html
