18 December 2012

HUNGARY : Currency Plunge Forces Another CBank Benchmark Drop.


      For the 5th month...Hungary's central bank cut its interest rate...after the forint continued to plunge.
      The Cbank dropped its 2-week benchmark rate by 25 bps...to 5.75%...as the forint hit a 5-month low.
       The forint has outpaced every currency except Poland's in 2012.
       The recent plunge reduced the forint's overall gain to 9.2%.
       Hungary's November inflation slowed...to 5.2%....an 11-month low.