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Gross Wages Rise 16.9% y/y in March

HUNGARY
  • Hungary's average gross wages rose 16.9% y/y in March versus revised +0.1% in February, according to data released by the Central Statistical Office this morning.
  • As announced in yesterday's NBH policy statement, the 1-day deposit rate was reduced by 100bps to 17% this morning.
  • A ceasefire and peace talks are needed instead of escalating the war in Ukraine, Prime Minister Viktor Orban told the Qatar Economic Forum in Doha on Tuesday as per MTI. Hungary’s viewpoint of the war differs from that of the European mainstream because it is a neighbour of Ukraine, which has a sizeable Hungarian minority, Orban said.
  • There are no major economic releases or speaker events scheduled today, with unemployment data on the docket tomorrow (Est: 4.1%; Prior: 4.0%).

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