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Good Chance of Single-Digit Inflation by Year-End, Orban Says

HUNGARY
  • EURHUF has traded on the front foot once again this morning after price action yesterday saw the pair end the session up 0.55% and close to last Thursday’s levels. The pair trades just shy of the 400.00 handle, putting the forint at the bottom of the CEEMEA scorecard.
  • Prime Minister Orban said avoiding a recession and putting the brakes on inflation are "ambitious goals" of the government in 2023 in an interview with Kossuth Rádió cited by Budapest Business Journal. "The first ambitious goal is to reduce the rate of inflation to the single digits by year-end… I think that's possible and we have a good chance to achieve [that goal]," Orban said.
  • Minister of Economic Development Nagy held talks with Turkey's Minister of Industry and Technology Varank in Budapest on Monday, the ministry said according to MTI. The sides were in agreement about the importance of Turkish-Hungarian economic links and industrial cooperation.
  • There are no major economic releases or speakers scheduled today.
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