MNI: GERMANY OCT EXPORTS -2.8% M/M (VS FCST -2.6%)

MNI BRIEF: BOJ Tankan: Business Inflation Expectations Solid

MNI BRIEF: RBA Details Hypothetical Monetary Policy Paths

MNI: PBOC Net Injects CNY14.2 Bln via OMO Friday

MNI: PBOC Sets Yuan Parity Higher At 7.1876 Fri; -1.22% Y/Y

MNI BOJ DEC TANKAN LARGE MFG INDEX +14; SEPT 13; MEDIAN +12

MNI: SPAIN NOV HICP +0% M/M, +2.4% Y/Y

MNI: FRANCE NOV HICP -0.1% M/M, +1.7% Y/Y

MNI: SWEDEN NOV UNEMPLOYMENT 7.4%

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

HUF Weakness May Pressure NBH To Hike More ‘Aggressively’

HUNGARY
  • NBH is expected to raise its 1W depo rate by 30bps to 4.6% in today’s meeting; terminal rate is likely to reach nearly 5% by the end of March (another 30bps hike in March).
  • Selling pressure on HUF has been strong in the past two days as CEE Currencies remain vulnerable to the current environment (i.e. geopolitical risk).
  • In addition, the market was slightly disappointed by the press conference on Tuesday; the ‘little communication’ seems to have been perceived as a ‘dovish’ signal.
  • EURHUF rose to a high of 367.70 earlier this morning before edging lower; the pair is current trading above its 100DMA (361.90).
  • Hence, the significant HUF depreciation may pressure NBH to hike more ‘aggressively’ today as a depreciation domestic currency keeps supporting inflation expectations.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

To read the full story

Close

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.