The Hungarian National Bank hiked its base interest rate by 50 basis points from 6 to 6.5 per cent Tuesday in response to a weakening currency and a worsening economic outlook, dpa reported. The move was widely expected, coming the week after Hungary requested a new credit line from the IMF. That followed a downgrade of the country's bonds to "junk" status by the credit rating agency Moody's. -- SPA
