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New CBank head...and close PM Orban ally...Gyorgy Matolcsy has continued lowering the benchmark...this time by 25 bps...to 4.75%...as inflation hovers close to a 39 year low.
It was the CBank's 9th monthly rate cut.
Many investors expect the benchmark to drop below 4% in the next 6 months.
PM Viktor Orban also announced that Hungary will spend almost 300 million euro/ $400 million to build a state of the art...65,000 seat national stadium...and Olympic sports park in Budapest.
Construction will begin in 2014...with a 2017 projected completion date.
http://www.bloomberg.com/news/2013-04-23/hungary-cuts-main-rate-to-record-low-as-matolcsy-targets-growth.html
