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INFLATION: THE CENTRAL BANK IS ADAMANT

MN
2003.06.11. 07:59

Yesterday the monetary council raised the basic interest rate with one pc to 7,50 pc on its session and by this the central bank has made it clear that it sticks to the inflation targets set for the next year.

According to Zsigmond Járai, President of the Central Bank the modification of the fluctuation belt of the forint was overreacted by the market last week and said the Central Bank insisted on carrying out the inflation plans of 5 pc for this year and 3,5 pc (plus-minus 1 pc) for the next year. Yesterday the forint gained strength on the international money market.

Translated by Péter Szentmihályi Szabó

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