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HUNGARY: Fitch Scheduled to Review Hungary’s Sovereign Credit Rating

HUNGARY
  • Speaking on public radio this morning, Prime Minister Orban said Hungary's ruling parties had won the European parliamentary and local elections, which were about "whether Hungarian parties should stand on the side of war or peace", MTI report. The elections brought a concrete result, Orban said, adding he could use the results to keep Hungary away from NATO's Ukraine mission.
  • On the EUR 200m fine imposed by the EU’s top court yesterday, Orban said the government was weighing "possible solutions" to the matter. "The Hungarian people can be assured that it will hurt Brussels more than Hungary in the end," he said according to MTI.
  • Fitch is scheduled to review Hungary’s sovereign credit rating after hours today (current rating: BBB; Outlook Negative).
  • Focus shifts to the NBH decision next Tuesday where the central bank is expected to decide between a 25bp or 50bp rate cut, with sell-side consensus leaning towards the former. Deputy Governor Virag has repeatedly stated that he sees the base rate within the 6.75-7.00% range by the end of June, effectively leaving the central bank with just the two aforementioned options.
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungary

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