Analysts expect further rate cuts

Market analysts expect further rate cuts after the Monetary Board’s Tuesday decision; lowering the base rate by 15 basis points to 1.95 percent, which is a new new historical low.

The base rate was 2.10 percent. Analysts expected reduction, their opinions only differed about the level of the reduction.

Kiss Mónika, senior analyst at Equilor considers the central bank's decision as the first step of a shorter series. She believes that the base rate will reach 1.6 percent with several small cuts until April 2016. (MTI)