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HUNGARY: Magyar’s Tisza Party to Join European Parliament's Centre-Right Bloc

HUNGARY
  • Hungarian opposition party Tisza will join the centre-right European People's Party bloc in the European Parliament, party leader Peter Magyar said yesterday, as per Reuters. Magyar said in a Facebook video that he would take up his seat as a MEP, despite indicating earlier that he would rather stay in Hungary and focus on laying the groundwork to defeat Orban in the next national election in 2026.
  • Our review for yesterday’s NBH meeting, where the central bank cut the base rate by 25bps to 7.00%, will be released later today. The decision was in-line with sell-side consensus, as was guidance from the central bank that the scope for further rate cuts is limited.
  • There are no major data releases scheduled for today. Average gross wage data for April will cross on Friday (Est: +13.7% Y/Y; Prior: +13.9%).

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