The MNB widened the interest rate corridor, but did not raise the central bank base rate

By: Trademagazin editor Date: 2022. 03. 08. 11:20

The Monetary Council of the Magyar Nemzeti Bank left the central bank base rate unchanged at 3.40 percent at its meeting on Tuesday, but raised the upper end of the interest rate corridor by 100 basis points from 5.40 per cent to 6.40 percent.

interest rate corridor increases by 1 percentage point

The lower end of the interest rate corridor, the interest rate on overnight central bank deposits, remained unchanged at 3.40 percent, while the interest rate on overnight and one-week secured loans rose to 6.40 percent.

The board last raised the central bank base rate by 50-50 basis points in February and before that in January. (MTI)