Hungary's Pszáf Investigates Bloomberg

  • 25 Apr 2013 9:00 AM
Hungary's Pszáf Investigates Bloomberg
The financial supervisory Pszáf has launched an investigation into whether the misreporting of the latest interest rate cut by news agency Bloomberg was a deliberate act of market manipulation, spokesman István Binder said on Wednesday.

Before the official announcement of the MNB’s monetary council’s interest rate decision, Bloomberg mistakenly reported that the base rate was cut to 1%, rather than the actual 25 basis point reduction to 4.75%.

The error was corrected promptly and Bloomberg took immediate steps to prevent similar cases, the regional spokesman said.

Source: Hungary Around the Clock

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