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The biggest rate increase in Hungary since 2008
The Hungarian Central Bank increased the 1-week deposit rate to 5.35 percent after the Russian attack on Ukraine shook the markets...
Yazar: James Gordon
Yayınlanma: 4 Mart 2022 05:00
Güncellenme: 12 Kasım 2024 19:21
Hungary increased its weekly deposit rate by 75 basis points to 5.35 percent. This was the largest rate hike since 2008.
The currency forint fell to a record low against the euro yesterday. Since the day Russia invaded Ukraine, the currency has dropped by nearly 6 percent.
Inflation in the country recorded its biggest increase in 15 years in January. Economists state that the rise in inflation may continue due to the Russian crisis.
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