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HUNGARY: MNI NBH Review – September 2024

HUNGARY
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion
  • The National Bank of Hungary cut its base rate by 25bps to 6.50%, in-line with unanimous consensus.
  • The policy statement offered few surprises, while Deputy Governor Virag’s press conference was interpreted as dovish given that he signalled rate cuts would be considered at each meeting through year-end.
  • Among sell-side, the broad consensus is still that the central bank will deliver one additional 25bp cut in 2024, most likely in December when an updated economic forecast will be provided.

See our full review, with a summary of sell-side analyst views, here.

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  • The National Bank of Hungary cut its base rate by 25bps to 6.50%, in-line with unanimous consensus.
  • The policy statement offered few surprises, while Deputy Governor Virag’s press conference was interpreted as dovish given that he signalled rate cuts would be considered at each meeting through year-end.
  • Among sell-side, the broad consensus is still that the central bank will deliver one additional 25bp cut in 2024, most likely in December when an updated economic forecast will be provided.

See our full review, with a summary of sell-side analyst views, here.