(Bloomberg) -- Hungary's forint fell for a second
day against the euro after the central bank unexpectedly cut
interest rates, eroding the attraction of forint-denominated
assets.
The central bank reduced its benchmark lending rate by a
quarter of a percentage point to 7.75 percent yesterday, the
first cut since 2005, after inflation slowed. The decision was
expected by seven of 25 economists polled by Bloomberg News, with
the rest expecting rates to be kept on hold.
Read more at Bloomberg Currencies News
day against the euro after the central bank unexpectedly cut
interest rates, eroding the attraction of forint-denominated
assets.
The central bank reduced its benchmark lending rate by a
quarter of a percentage point to 7.75 percent yesterday, the
first cut since 2005, after inflation slowed. The decision was
expected by seven of 25 economists polled by Bloomberg News, with
the rest expecting rates to be kept on hold.
Read more at Bloomberg Currencies News
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