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Hungary cbank cuts rates by 25 bps to 6.25 pct

Published 12/21/2009, 08:04 AM
Updated 12/21/2009, 08:06 AM

BUDAPEST, Dec 21 (Reuters) - Hungary's central bank (NBH) cut its key base rate by 25 basis points to 6.25 percent on Monday, slowing the pace of its rate reductions after five consecutive half point cuts in the past five months.

The NBH has cut its key interest rate by a combined 325 basis points since July.

At 6.25 percent, the base rate is at its lowest level since June 2006.

In a Reuters poll last week only six out of 23 analysts expected a quarter point reduction, while 16 respondents projected the bank would cut 50 basis points again. One analyst expected unchanged rates. (Reporting by Krisztina Than, editing by Mike Peacock)

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