Elevated Risks Of Monetary Policy Reversal

April 2009
Emerging Europe Monitor: Central Europe & Baltic States;Apr2009, Vol. 16 Issue 4, p1
Country Report
The article reports on the risks of the National Bank of Hungary (NBH) to reverse its monetary policy as a result of the depreciation of the forint. Such depreciation also threatens the banking sector, as well as add to inflationary pressure. On February 23, 2009, the bank decided to hold its key base rate at 9.50%. Considering these changes, it is expected that the country's gross domestic product (GDP) will contract to 3.4% in 2009.


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