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EUR/HUF Firms as NBH Guides Hawkishly Towards Sustained Hiking Cycle

HUNGARY
  • EUR/HUF moving lower following the meeting, with the NBH guiding hawkishly towards a sustained hiking cycle to tame inflation
  • Additionally, slightly larger increase to the 1-wk deposit rate providing support to HUF
  • Yields on local bonds trade +14-22.6bp higher across the breadth with a marginal bear steepening bias
  • 10-15Y yields leading the way higher at +21-22.6bp
  • 10Y yields hovering a fraction below the prior highs at 4.60 & 4.6554
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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