The Magyar Nemzeti Bank also held the interest rate unchanged at 6.00% during its September meeting, after raising it 25 basis points in January this year. Hungary reported annual inflation of 3.6% in September and August, compared to 3.1% in July, 3.5% in June, 3.9% in May, and 4.7% in April. Hungary's Central Bank has a medium term inflation target of 3%, while the Bank expects inflation to average 3.9% this year.
The Hungarian economy grew at an annual rate of 1.5% in the June quarter, compared to 2.4% in the march quarter, and 1.9% GDP growth recorded in the December quarter last year. The Hungarian forint (HUF) has lost about 2% against the US dollar this year, the HUFUSD exchange rate last traded around 214