Hungarian central bank cuts key interest rate by half percentage point
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The Hungarian central bank lowered its key interest rate by 50 basis points, from 11.0 percent to 10.5 percent, the bank said in a statement posted on its website.
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The European Central Bank holds interest rates at 3%, amid signs of easing eurozone inflation.
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The Federal Reserve unexpectedly slashed a key interest rate by a bold three-fourths of a percentage point on Tuesday, responding to a global plunge in stock markets that heightened concerns about a recession. The Fed signaled that further rate cuts were likely.
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The Federal Reserve on Tuesday slashed U.S. interest rates by a hefty three-quarters of a percentage point, the biggest rate cut in more than 23 years, in an emergency bid to lend support to a U.S. economy some fear is on the verge of recession.
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The Federal Reserve on Tuesday slashed benchmark interest rates by a half-percentage point in a bold bid to buffer the economy from a housing slump and related financial market turbulence.
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The Bank of England held its key interest rate at 5.25 percent for the second month in a row on Thursday, the central bank announced.
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The European Central Bank left intact its main interest rate at 4 percent, stepping away from a threat to raise rates, as the Bank of England cut its benchmark rate by a quarter-point, to 5.25 percent.
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The U.S. Federal Reserve on Tuesday slashed the benchmark federal funds rate by a half-percentage point in a bold bid to buffer the economy from a housing slump and related financial market turbulence.
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Business & money: Lenders move swiftly to cut home loan rates after the Bank of England cut the price of borrowing
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The Federal Reserve cut the target on a key short-term interest rate by a half of a percentage point today to 4.75 percent, further acknowledgment from the central bank that the mortgage meltdown plaguing Wall Street and Main Street could have a negative impact on the economy.
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Responding to a worldwide stock sell-off and fears about a U.S. recession, the Federal Reserve slashed its benchmark interest rate before the opening of the U.S. markets.
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Despite the likelihood that proposed changes to the make-up of the Monetary Council of the National Bank of Hungary (MNB) will usher in a council more keen to cut rates faster, the weakening of the forint may ...
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Jean-Claude Trichet, president of the European Central Bank, has made clear that a cut in interest rates is not on the central bank&#39;s agenda, despite the increasingly damaging
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The Federal Reserve cut a key interest rate by half a percentage point today, the second rate cut in nine days, in an aggressive move to try to prevent a recession.
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Hungaryâs central bank unexpectedly cut its benchmark interest rate, the European Unionâs highest, for the first time since 2005 after inflation slowed. Policy makers, led by the central bankâs governor, Andras Simor, left, cut the two-week deposit rate a quarter-point, to 7.75 percent, after holding it since October. A leveling of wage growth also persuaded rate setters to lower borrowing costs, Mr. Simor said. Hungaryâs annual inflation rate has quadrupled in the last year as Prime Minister Ferenc Gyurcsanyâs government raised taxes and utility bills. Inflation excluding food and energy prices slowed for a second month in May, and an easing of pressures in the labor market reduced concern that prices would rise faster than the inflation target in the medium term.
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Business & money: Hungarian-born financier issues stark warning about British economy in face of Fed rate cut
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The Federal Reserve cut U.S.  interest rates by a hefty half-percentage point on Wednesday as  part of an ongoing aggressive effort to halt a sharp slowdown  in an economy hit by a housing slump and a credit crunch.