Tuesday, June 24, 2008
"Too fast" HUF rally behind no hike surprise, says City
ISI News
London, June 24, 2008 (MTI-ECONEWS) - Hungay's central bank is likely to have backed away from a widely anticipated policy rate hike on the back of the forint's "too fast" appreciation, London-based emerging markets analysts said on Tuesday.
Defying a City consensus that had called for a 25bps hike on Monday as part of a cumulative 50bps tightening the markets have been generally pricing for this year, the NBH left its base rate on 8.50pc in what analysts said was a surprise move after the MPC's hawkish rhetoric over the past few weeks.
In its "New Markets Daily" comment released in London,...
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