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Hungarian Forint Falls After Policy Meeting

January 24, 2017 at 18:00 by Vladimir Vyun

Hungarian coins and notesThe Hungarian forint fell today after Hungary’s central bank preserved its extremely loose monetary policy and hinted that it can make the policy even more accommodative if it is required.

The Magyar Nemzeti Bank left its main interest rate at the record low of 0.9%. Other rates also remained without change. The bank said in the statement that it has capacity for additional monetary easing:

The Magyar Nemzeti Bank monitors developments in monetary conditions and markets. If subsequently warranted by the achievement of the inflation target, the Council will stand ready to ease monetary conditions further using unconventional, targeted instruments.

USD/HUF rose 0.08% to 288.59 as of 17:50 GMT today.

If you have any questions, comments, or opinions regarding the Hungarian Forint, feel free to post them using the commentary form below.

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