Brussels, Sept. 27, (dpa-AFX/GNA) - Hungary’s central bank lifted its benchmark rate at a sharper-than-expected pace on Tuesday.
The Monetary Council, led by Governor Gyorgy Matolcsy, hiked the base rate by 125 basis points to 13.00% from 11.25%.
The overnight deposit rate was increased by 125 basis points to 12.50% and both the overnight and one-week collateralised lending rates were raised by 125 basis points to 15.50%.
The central bank has raised the key interest rate in every policy session since June last year.
GNA