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In his first major decision since taking office as central bank chief...controversial former economy minister...and close ally of populist PM Viktor Orban...Gyorgy Matolcsy... dropped the benchmark interest rate by 25 bps...to a record low...5%.
The forint strengthened.
Inflation is under the bank's 3% target.
http://www.bloomberg.com/news/2013-03-26/hungary-set-for-record-low-rates-as-matolcsy-takes-over.html
