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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.
HUNGARY
- This morning, economic data showed that July CPI inflation decelerated more than expected to 4.6% YoY (vs. 4.8% YoY), down from 5.3% the previous month.
- Even though inflation remains well above the NBH 4-percent upper tolerance band, the 'negative' surprise will allow policymakers to continue their tightening cycle with smaller rate hikes (15bps) in the coming meetings.
- As a reminder, the NBH increased its policy rate by 30bps at each of its previous two meetings, raising the policy rate to 1.2% and is planning monthly pace in rate hikes according to the latest statement.
- Next meeting is on August 24, and the NBH is very likely to raise its benchmark rate by 15bps to 1.35%.
Source: Bloomberg/MNI
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.
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