HU: In July MNB kept the rates again

At its todays rate-setting meeting, the Monetary Council kept the policy rate unchanged at 6.50%. The decision met both our expectation and the market consensus. The interest rate corridor did not change, either: the O/N deposit rate stands at 5.50%, while the O/N lending rate at 7.50%.

As usual, the statement of the Monetary Council on the background of the decision will be released at 3 p.m. Meanwhile, Governor Varga will hold a press conference at that time, as well. We will publish another Instant Comment on the details.