MNI: PBOC Net Drains CNY51.03 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Higher At 7.1364 Tues; -1.28% Y/Y

CHINA PBOC CONDUCTS CNY216.27 BILLION VIA 7-DAY REVERSE REPOS TUES

CHINA SETS YUAN CENTRAL PARITY AT 7.1364 TUES VS 7.1316

MNI China Daily Summary: Monday, July 29

MNI: PBOC Net Injects CNY243.37 Bln via OMO Monday

Australia Jun Total Dwelling Approved -6.5%

MNI: AUSTRALIA MAY BUILDING APPROVALS -6.5% M/M, -3.7% Y/Y

MNI: AUSTRALIA JUN DWELLING APPROVALS -6.5% M/M

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

2024 Deficit Goal Raised to 4.5% of GDP, Nagy Says

HUNGARY
  • Hungary's preliminary trade deficit was EUR 187.53m in December, according to the Central Statistical Office. Imports fell 7.6% m/m while exports fell 20.3% m/m. The statistics office said the negative turn was the result of a deteriorating energy balance on the import side and a decline in exports of the machinery industry.
  • Speaking in an interview with Index on Sunday, Economy Minister Marton Nagy said the government budget deficit target would be 4.5% of gross domestic product for this year, up from 2.9% planned earlier. He forecast the budget deficit narrowing to 3.7% of GDP in 2025 and to 3% later on.
  • Commenting on the central bank’s smaller-than-expected 75bp rate cut last week, Nagy noted that the NBH is still “far from” supporting the nation’s economic growth. The minister said he would have expected the large decline in Hungary’s inflation rate to have prompted a bigger easing move.
  • Looking ahead, CPI data is the highlight of the week on Friday (Est: +4.3% y/y; Prior: +5.5% y/y). Industrial Production (Est: -7.8% y/y), Retail Sales (Est: -2/2% y/y) and Budget Balance data are also all on the docket this week.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.