Hungarian Forint Recovery Tied to Euro Entry Story: ING

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The Hungarian forint's recovery is tied to the euro entry story, according to ING's Chris Turner, after the National Bank of Hungary cut its policy rate by 25 basis points to 5.50%, with Chief Economist Peter Virovacz seeing a terminal rate of 4.75%.

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％ECB rates
ECBRATES
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Hungarian central bank cut rates, but this is about HUF yields, not ECB rates; ECB rates not directly affected, so ambiguous.

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