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Economic Confidence Rises to -16.1 in May

HUNGARY
  • Hungary’s economic confidence rose to -16.1 in May from -17.2 in April, data from the GKI Institute revealed. Business confidence is at -4.7 (Prior: -7.7) while consumer confidence stands at -48.5 (Prior: -44.3).
  • Prime Minister Viktor Orban will travel to Qatar today for a multi-day visit alongside Finance Minister Mihaly Varga and Minister for Economic Development Marton Nagy. Talks in Qatar will focus on bilateral cooperation in energy, the economy and finance. Sides will also weigh new investment opportunities and discuss current global political affairs.
  • There are no major data releases scheduled today. Looking ahead, the NBH rate decision takes focus Tuesday afternoon, where sell-side analysts are expecting the first cut to the 18% effective rate. Gross wage and unemployment data is on the docket later in the week.

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