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HUNGARY: NBH Strike Familiar Themes in September Meeting Minutes

HUNGARY
CEEMEAEM BulletBulletGlobalEmerging Market NewsHungaryRegion

Not much new in the September meeting minutes compared to the policy statement. Highlights as follows:

  • In terms of the inflation projection, members noted that the inflation rate would remain volatile over the short term, which was an important contributor to the continued high level of inflation expectations.
  • However, the Council was in agreement that, overall, the outlook for inflation had not changed over the longer term compared to the June projection. In this context, several members indicated that disinflation would continue in 2025 Q1
  • Volatile financial market developments, the renewed increase in geopolitical tensions and the risks to the outlook for inflation continued to warrant a careful and patient approach.
  • Decision makers pointed out that the slower recovery in European export markets, and the German market in particular, was holding back domestic exports in general.

See the full release here.

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Not much new in the September meeting minutes compared to the policy statement. Highlights as follows:

  • In terms of the inflation projection, members noted that the inflation rate would remain volatile over the short term, which was an important contributor to the continued high level of inflation expectations.
  • However, the Council was in agreement that, overall, the outlook for inflation had not changed over the longer term compared to the June projection. In this context, several members indicated that disinflation would continue in 2025 Q1
  • Volatile financial market developments, the renewed increase in geopolitical tensions and the risks to the outlook for inflation continued to warrant a careful and patient approach.
  • Decision makers pointed out that the slower recovery in European export markets, and the German market in particular, was holding back domestic exports in general.

See the full release here.