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Hungary cbank cuts rates by 50 bps to 7.0 pct

Published 10/19/2009, 08:05 AM
Updated 10/19/2009, 08:09 AM
TTEF
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BUDAPEST, Oct 19 (Reuters) - Hungary's central bank cut its key interest rate by a further 50 basis points to 7.0 percent at its monthly rate meeting on Monday, in line with expectations.

The bank has cut by a total of 250 basis points in the past four months.

In a Reuters poll last week 23 out of 25 analysts projected a half percentage point cut while one analyst forecast a 25 basis point reduction and one said the bank would hold fire. (Reporting by Krisztina Than; Editing by Mike Peacock)

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