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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HUNGARY
- The NBH maintained the pace of its tightening cycle and raised its base rate by 100bps yesterday to 11.75% (as expected).
- The central bank is also likely to readjust the 1W depo rate by the same magnitude on Thursday.
- In its statement, the NBH reiterated that it will continue to raise rates until CPI outlook stabilizes.
- In addition, the central bank also announced that it will raise the required reserve ratio for banks and introduce a LT deposit facility to absorb liquidity at longer maturities.
- The forint appreciated sharply yesterday following the NBH series of announcements, with EURHUF consolidating towards the 402 level (50DMA).
- Next ST support to watch on the downside stands at 400.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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