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HungaryCentral BankKeeps Interest Rate at 7.00%. The Magyar Nemzeti Bank kept itscentral bankbase rate steady at 7.00%. The Bank said:"The Monetary Council has decided to leave the base rate unchanged. Monetary... The European Union plans to freeze the assets of the SyrianCentral Bankstarting next Monday, declared French Foreign Minister Alan Juppe, as quoted by Reuters. Never in the history has so much money been poured in the direction ofbanks, most of which don't need it. It is becoming clear that Europeanbankswill use it, not to boost the economy, but to manage their balance sheet. Swiss private bank Lombard Odier warns that not only has the quality ofcentral bankbalance sheet deteriorated, there has been no visible impact on the real economy. Investors in 2012 therefore mustn't become entranced by the very considerable reflation attempts that will likely be delivered by the world'scentral banksthis year. |
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