The Monetary Council of the National Bank (MNB) reduced the base rate by 50bp to 7.75% in line with projections, slowing down the pace of monetary easing from 75bp in the previous meeting. The rate decision was in line with analysts’ projections, as MNB policymakers flagged the launch of a new phase in monetary policy with smaller rate cuts. There was no other option discussed and voting was unanimous, MNB deputy governor Barnabas Virag commented after the meeting, setting a hawkish tone, according to comments. Policymakers said domestic disinflation was strong and broad-based, however the vol…