By Tamas Csonka in Budapest The Monetary Council of the Hungarian National Bank (MNB) cut the base rate by 25bp to 7.0% with a unanimous vote on June 18, in line with forecasts, but its forward guidance signals the possibility of a temporary pause in the rate-cut cycle in the coming months. The MNB lowered its inflation forecast by 0.5pp to 3.0% in its quarterly macro update, while keeping the GDP outlook unchanged. The symmetric interest rate corridor was lowered by 25bp, bringing the O/N deposit rate to 6.0% and the O/N collateralised loan rate to 8.0%. The 25bp cut is the lowest since the M…