Forint Declines with Drop of Industrial Production
The Hungarian forint fell today as nation’s industrial production declined, spurring speculations that the central bank will continue its policy of monetary easing.
Industrial output fell 0.1 percent in November from the previous month. On year-over-year basis, productions sank 6.9 percent, demonstrating the sharpest drop since 2009. The Magyar Nemzeti Bank (Hungary’s central bank) was cutting interest rates every month since August and is likely to do so again amid all the problems that haunt European countries.
USD/HUF advanced from 222.2700 to 223.3150 as of 16:59 GMT today.
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Earlier News About the Hungarian Forint:
- Forint in Danger from Interest Rate Cut (2012-11-27)
- Forint Suffers from Bad German Data (2012-07-31)
- Forint Loses Gains, Still Heads for Third Weekly Advance (2012-06-22)
- Forint Gains as Europe Strengthens Firewall Against Crisis (2012-03-30)
- Forint Drops to Almost Three-Year Low (2012-01-04)