Unemployment up a notch to 7.2% in June–August, driven by youth unemployment
Hungary's unemployment rate was 7.2% in the period June-August 2005, up 0.1 percentage points compared to the May-July period but largely in line with the average of the year to date, according to figures released by the Central Statistical Office (KSH).
Government submits tax reform proposals to parliament
The government has put its 2006 tax reform proposals before parliament, finance minister Janos Veres announced in Budapest on Monday.
Analysts expect slowdown in monetary easing after latest 25 bp rate cut
Following a 25 basis point base rate cut to 6.0% by Hungarian central bank MNB on September 19, analysts expect a slowdown in the monetary easing trend, resulting in a 5.5–6.0% rate at the end of 2005.
Monetary Council cuts base rate by 25 bp to 6%, in line with expectations
Effective September 20, the Monetary Council of Hungary's central bank MNB reduced the base rate by 25 basis points to 6.00% at its September 19 meeting. Council members voted almost unanimously for a 25 bp cut, although the possibility of a 50 bp cut was also considered, MNB president Zsigmond Jarai said after the meeting.
Telecom authority passes decrees to boost competition on ADSL, leased line markets
The National Telecom Authority's Council (NHHT) has passed resolutions pertaining to four wholesale markets of the fixed-line telecom market, naming significant market players (SMP) and passing pricing guidelines in each segment, the Council announced in a statement Tuesday.
