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Hungary Hikes EU’s Highest Key Rate to Fight Inflation Surge

  • Policy makers’ 30 basis-point hike to 6.15% matched estimate
  • Forint drops against euro as rate-hike fails to overdeliver
Traffic drives past the Hungarian central bank, in Budapest.

Traffic drives past the Hungarian central bank, in Budapest.

Photographer: Akos Stiller/Bloomberg

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Hungary resumed raising the effective interest rate after the central bank said that the war in neighboring Ukraine will lead to a sharply deteriorating inflation outlook.