BUDAPEST, Nov 7 (Reuters) - Hungary's inflation path is squarely below the central bank's medium-term target of 3 percent on the policy horizon and there is no worry that it would become excessive, on of the bank's deputy governors, Adam Balog, told a conference on Thursday.
'We see that the basic processes that determine long- or medium-term inflation, such as wages or prices, are squarely below the targeted 3 percent even without the government's energy price cuts or other measures,' Balog said.
'Moreover they don't even reach (that level), so we see no reason for worry that there would be excessive inflation in Hungary.'
Amid a sluggish economic growth and several rounds of energy price cuts imposed by the government, Hungary's inflation fell to a 39-year low this year and the central bank has cut its main rate to a record low of 3.4 percent.
(Reporting by Marton Dunai) Keywords: HUNGARY CBANK/INFLATION
(email@example.com)(+36-1-327-4742)(Reuters Messaging: firstname.lastname@example.org)
Copyright Thomson Reuters 2013. All rights reserved.
The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.