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GKI Consumer Confidence Index Highest Since Feb 2022

HUNGARY
  • Hungary’s GKI institute published its monthly consumer confidence index, which soared to the highest since February 2022 (-19.0 in January from -30.7 in December) in an early sign that the economy may potentially be on the mend.
  • Boosting economic growth over 4pc is a "resolute goal" of the government this year, MTI quote Gergely Suppan, head macro analyst at the National Economy Ministry, as saying in an interview. Suppan said the structure of this year's growth would be more balanced this year and pointed to the positive impact of FDI, large-scale investments in the automotive and battery production industries, and subsidised credit schemes to support domestic companies' investments.
  • The US inflation print will likely be the key short-term driver of price action today. Domestic CPI data takes focus tomorrow where analysts see headline inflation declining from +7.9% y/y in November to +5.9% in December. The NBH meet next on Jan 30.

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