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HUNGARY: Orban Says Hungary’s Economy on “Cusp of Recovery”

HUNGARY
  • Speaking in an interview on a state radio channel this morning, Prime Minster Orban said Hungary's economy has moved past a "very difficult period" and is "on the cusp of recovery." He also said Hungary's interest is economic neutrality, not the formation of blocs, commenting on the recently published report on European competitiveness by Mario Draghi.
  • ECB President Christine Lagarde will speak in Budapest at the meeting of euro area finance ministers. The move follows decisions by a large number of finance ministers and central bank governors to skip the gathering to protest Orban’s uncoordinated diplomatic meetings, which included a meeting with Russian President Putin.
  • There are no local data releases scheduled for today, or for the entirety of next week. Focus therefore turns to the major global risk events, namely the FOMC rate decision on Wednesday.

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