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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
- Yesterday, the NBH decided to raise its 1W depo rate by 30bps to 4.6% (as expected), following its decision to hike the ‘core’ policy rate by 50bps on Tuesday.
- Based on Barnabas Virag last month, the NBH will now proceed with monthly hikes in the 1W depo rates, likely to hike by another 30bps in March.
- However, the NBH could once again act via the 1-week facility if the HUF remains weak under the current environment.
- EURHUF has been retracing sharply higher this week, approaching its key resistance at 370. A break above that level would open the door for a move up to 372. On the downside, first support stands at 366.40, followed by 365.
- This morning, economic data showed that unemployment rate rose to 4.2% in January (vs. 3.7% exp.), up from 3.7% the previous month.
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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