Hungary Central Bank Rebuffs Rate Cut Calls as Forint Sinks

Hungary’s central bank pushed back against growing pressure from Prime Minister Viktor Orban’s government to cut interest rates, which caused the biggest slide in the forint in more than seven months on Tuesday.

Policymakers will stick to their mandate of fighting inflation until it returns sustainably to the bank’s tolerance band, after stripping out the impact of price curbs imposed by the government, Deputy Governor Zoltan Kurali said on Tuesday.