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Day: December 17, 2007
December 172007
Hungarian Central Bank Holds Rate – Forint Drops
Magyar Nemzeti Bank (Hungarian Central Bank) decided today during the Monetary Council’s meeting to hold the main refinancing interest rate at the same level — 7.50%, after the last cut made from 7.75% by MNB on September 25. Hungary is still maintaining the highest interest rate in the European Union. While the target inflation of the central bank is 3.0% the actual number is far from it — 7.1% according to the November data. […]
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December 172007
NY Empire State Manufacturing Index
Dollar continued to strengthen against major currency pairs (except the Swiss franc) even after the very pessimistic release of the December NY Empire State Manufacturing Index report, which fell down by 17 points to 10.3. Federal Reserve Bank of New York reported that the new orders and shipments declined significantly in December according to their survey. Among the good news was the Treasury International Capital report for October — net foreign […]
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