Hungary cbank could start “cautious” rate cuts once CPI slows – minister

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Reuters UK

BUDAPEST (Reuters) – Hungary’s January annual inflation is expected to rise above 25% but in February price growth will start slowing which could then allow the central bank to gradually start reducing its interest rates, the minister for economic development said on Sunday. Marton Nagy, a former central bank deputy governor, told state radio that the “very high” interest rates made the government’s job difficult and harmed the economy. Prime Minister Viktor Orban’s government is trying to avoid economic recession at a time when inflation is still running well above 20%. Nagy said inflation co…

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