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Economic Sentiment Rises in December; Fitch Affirms Hungary at 'BBB'

HUNGARY
  • Hungary's long-term foreign currency debt rating was affirmed by Fitch at 'BBB', the second-lowest investment grade score, in a ratings review after hours on Friday. The outlook remains 'negative'.
  • Hungary's GKI economic sentiment rose to -13.8 in December from -15.4 in November, according to the GKI Economic Research. That matches the print from March – its highest of the year. Business confidence rose to -6.9 from -7.9 while consumer confidence rose to -33.6 from -36.7.
  • Prime Minister Orban will meet with Turkish President Erdogan in Budapest. There are no economic releases of note today ahead of the NBH rate decision tomorrow afternoon. Another 75bp cut is the broad consensus among sell-side, though upside risks are noted by some. Our full preview of the decision will be released later today.

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