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HUNGARY: NBH Project Annual Inflation Between 3.0-4.5% This Year

HUNGARY

Highlights from the NBH's policy statement:

  • According to the MNB’s projection, annual inflation is expected to be between 3.0 and 4.5 percent this year on average. Inflation may be between 2.5 and 3.5 percent in 2025 and 2026.
  • Hungary’s GDP is expected to grow by 2.0–3.0 percent in 2024, by 3.5–4.5 percent in 2025 and by 3.0–4.0 percent in 2026.
  • Based on the Monetary Council’s assessment, the outlook for inflation has improved in the past quarter.
  • However, the volatile financial market environment, significant geopolitical tensions and the risks to the outlook for inflation continue to warrant a careful and patient approach.
  • Looking ahead, risks surrounding global and domestic disinflation, volatility in international investor sentiment and expected interest rate policies of the world’s leading central banks warrant a careful and patient approach to monetary policy.

See the full policy statement here.

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