NBH deputy governor to propose additional 15 bp base rate cut in July

The new deputy governor of the central bank, Barnabas Virag, said he would propose an additional 15 basis point cut in the base rate to the next meeting of the monetary council in July. He said after a July reduction, however, no further cuts should be made to the base rate, as a rate of 0.6 percent would be appropriate for supporting economic recovery while strengthening financial stability, adding that any further reductions after July could be ruled out.