Hungary’s central bank policymakers raised the O/N deposit rate by 45 basis points to 1.60% and the O/N and one-week collateralised loan rates by 105 basis points to 4.10% at a meeting on Tuesday.
The base rate remains unchanged at 2.10%. The O/N deposit rate and the collateralised loan rate mark the bottom and the top, respectively, of the central bank’s “interest rate corridor”. The base rate is paid on mandatory reserves and preferential deposits.
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