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Article: Conflicting views about Hungary's status abound.
- Article from:
- Market Europe
- Article date:
- August 1, 2006
CopyrightCOPYRIGHT 2006 Media Contact Resources, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Recent news out of Hungary is alarming, confusing and misleading. For example, the chart above clearly shows consumer prices declining over the past decade.
Consider the following from a July 24, 2006 story by the Economist Intelligence Unit (EIU) (London). "The National Bank of Hungary (NBH) announced on July 24th that its benchmark interest rate, the two-week deposit rate, would rise by 50 basis points to 6.75%. This is the largest single movement in the interest rate in two and a half years and confounded expectations that the NBH would raise rates by 25 basis points for the second consecutive month."
The chart above does not even hint at any pressure ...