0642 GMT [Dow Jones] Hungary is in dire straits, says Lombard Street - the economy grew just 0.7% in 4Q, seasonally adjusted and calculated by Lombard, and persistent inflation remains a concern. While the central bank has raised its policy rate by 50 bps to 8.0% to defend its credibility, political instability now threatens Hungary's already fragile economic outlook. As a result, Lombard expects further HUF weakening against the EUR. EUR/HUF now at 261.71. (MAF)
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(END) Dow Jones Newswires
April 01, 2008 02:42 ET (06:42 GMT) | 
