Orthodox rate cut from Hungary's central bank

Hungary's central bank governor, the dovish György Matolcsy, has cut rates by 25 basis points to an all-time low of 5 per cent - a pretty orthodox move. Hungary's currency, the forint, is one of the worst performers in emerging markets due to concerns that Prime Minister Viktor Orbán's unorthodox economic approach would spread to the central bank. Neil Buckley, the FT's eastern Europe editor, discusses with Stefan Wagstyl, emerging markets editor, whether this cautious cut will help the forint.