(Bloomberg) -- Hungary's forint fell against the
euro after a report showing wages grew less than expected buoyed
expectations the central bank will lower the European Union's
highest interest rates.
The forint slid to its lowest in a week after Hungary's
Statistics office said gross wages grew 7.4 percent in May on the
year, compared with the 8 percent forecast in a Bloomberg News
survey. Slower earnings growth may prompt the central bank to cut
its base rate for a second time in two months.
Read more at Bloomberg Currencies News
euro after a report showing wages grew less than expected buoyed
expectations the central bank will lower the European Union's
highest interest rates.
The forint slid to its lowest in a week after Hungary's
Statistics office said gross wages grew 7.4 percent in May on the
year, compared with the 8 percent forecast in a Bloomberg News
survey. Slower earnings growth may prompt the central bank to cut
its base rate for a second time in two months.
Read more at Bloomberg Currencies News
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