NBH policymakers keep base rate on hold

The National Bank of Hungary's Monetary Council decided to keep the central bank's key rate on hold at 0.9 percent at a monthly policy meeting on Tuesday. The Council has left the base rate on hold since signalling an end to an easing cycle at a policy meeting in the spring of 2016. However, the rate-setters have made use of "unconventional, targeted" instruments to ease monetary policy further. In a statement released after the meeting, the Council suggested an adjustment to the timeframe for maintaining its loose policy compared to earlier communications.