Hungary's central bank cuts key rate to 5.50% as inflation falls

The cut was in line with analysts' expectations. It is the third at three interest rate meetings at the central bank and follows a fall in inflation in the country.

Inflation has been pushed down rapidly as the Hungarian currency, the forint, has been boosted by the end of Prime Minister Viktor Orban's 16-year rule of the country. The currency is also getting a boost from revived Hungarian plans to adopt the euro.

Inflation in Hungary was measured in July at 1.2 percent, the lowest level since 2016.