Hungary cbank keeps rates on hold for 5th month running

Hungary's central bank (NBH) on Tuesday kept rates on hold at 7.00 percent for the fifth month in a row, in line with market expectations. Andras Simor told a news conference that the bank's rate setters had considered two proposals: to lower the base rate by 25 basis points or to keep it on hold. "The volatile risk environment and inflation running above target for an extended period continue to warrant a cautious policy stance," the Monetary Council said in a statement.