Free Trial

Business Sentiment Falls Slightly In November Amid Rising Uncertainty

HUNGARY
  • This morning, economic data showed that PPI inflation accelerated to 18.5% in October, up from 14% the previous month.
  • Q3 GDP Final print came in as expected at 6.1% YoY, while manufacturing PMI fell to 52.2 in November (vs. 53.4 exp.), down from 53.1.
  • Yesterday, the NBH decided to hike its rate corridor ceiling to 4.1% (from 3.05%) in order to potentially make room for the 1W deposit rate to rise in the coming weeks.
  • We have seen that the NBH rose its 1W deposit rate to 2.9% (vs. 2.1% policy rate) in order to limit the HUF depreciation as a weakening forint keeps supporting inflation expectations.
  • The NBH will publish its minutes today (1pm London time).

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.