La Banque Centrale Hongroise augmente ses taux d'intérêts pour lutter contre l'inflation

Hungary’s Central Bank raised its key interest rate to the highest in more than three years, aiming to fight soaring inflation driven in part by government deficit-cutting, it was reported on May 26. The bank’s policy-making council lifted the base lending rate to 8.5 percent from 8.25 percent, citing pressure for higher wages in Hungary - itself a result of inflation - and rising prices worldwide.

“Hungarian economic growth continues to be subdued and the fall in inflation has been less rapid than expected,” a central bank statement said. The action on May 26 raised the benchmark lending rate, which applies to twoweek Central Bank bills, to the highest since February 2005. The bank raised the rate at its two previous meetings, including by half a percentage point in March.

Prime Minister Ferenc Gyurcsany’s government has raised taxes and hiked energy prices as part of measures to shrink the budget deficit and eventually get Hungary ready to qualify for the Euro. Inflation has fallen from a high of nine percent in March 2007 to 6.6 percent in April, more than twice the central bank’s medium-term target of three percent. In the EU, only Romania,

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