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Forint Weakens on Back of Rate Decision

HUF
  • The forint has weakened on the back of the NBH rate decision. Of the views we had seen, most had been expecting a 75bp cut, though the Bloomberg survey median was for a smaller 50bp move.
  • EURHUF last deals around the 383.00 handle, though remains below noted resistance at 385.20, the 50-day EMA, and 389.20, the Oct 9 high, further out.
  • Policy statement and press conference by Deputy Governor Barnabas Virag follows at 1400BST/1500CET.

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