The Hungarian central bank raised effective interest rates for the sixth time in as many weeks to stem accelerating inflation. A day after Prime Minister Viktor Orban announced a freeze on mortgage rates -- which will act as a break on monetary tightening from the central bank -- policy makers raised the one-week deposit rate by 20 basis points to 3.80%. The decision increased the gap between the effective base rate and the borrowing costs for required reserves by 140 basis points. It also extended the string of increases in the rate tied to cash parked at the central bank by commercial lenders, which has been lifted ... (full story)