Economics
Hungary Begins Rate-Hike Cycle in Policy Break, Boosting Forint
- Rate hike expected but governor surprised with hawkish tilt
- Czech Republic may follow Hungary in tightening on Wednesday
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Hungary’s central bank raised its benchmark rate for the first time in a decade to curb the European Union’s fastest inflation and pledged monthly hikes as long as the price-growth outlook warrants. The forint overcame initial losses.