29 January 2013

HUNGARY : CBank Cuts Benchmark Interest Again; Now 5.5%.


      Despite outgoing and harassed Governor Andras Simor's opposition...the central bank cut its benchmark interest rate for the 6th month...by 25 bps...to 5.5%.
      The new rate is still the EU's highest.
      The 2-week deposit rate is at its lowest...since 2010. 
      Simor's 6-year term ends on 03 March.
      PM Viktor Orban's likely replacement for Simor...Economy Minister Gyorgy Matolcsy... is already causing consternation in the EU and with foreign investors...over possible money easing policies.