Hungary Holds Rate as Forecast Points to Stagflation Risk

Hungary’s central bank kept its key interest rate unchanged for a ninth month, with fresh forecasts pointing to persistent inflation and faltering economic growth. The forint gained against the euro.

The National Bank of Hungary held the benchmark rate at 6.5% on Tuesday, matching the forecast of all 20 economists in a Bloomberg survey. That’s tied with Romania for the highest key rate level in the EU.