Hungary increased interest rates to 7%

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Source: BBC

The Central Bank of Hungary raised the interest rate from 6.5% to 7% on Tuesday. The increase came in for government's criticism as it may impact economic growth. Currently, the country is in talks for 15-10bn euros worth aid package provided by the IMF and the EU. Moreover, Hungary is trying to adopt new law that would decrease the central bank's independence while the EU strongly opposes introduction of the law.

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