Free Trial

Hungary to Delay Central Bank Law Change Until Autumn

HUNGARY
  • Hungary’s government plans to delay a controversial change to the legislation governing the central bank until the autumn, Economy Minister Marton Nagy said as per Bloomberg. The government hasn’t scrapped the initiative, but it is in consultation with the central bank to make sure that the monetary-policy authority’s independence is respected.
  • Concerns over the proposed law and its implications on central bank independence led to a substantial rally in EUR/HUF earlier this month, resulting in the cross reaching a cycle high of 399.75. Consequently, many sell-side analysts have revised their calls for the size of the NBH rate cut tomorrow, given the instability in Hungarian markets justify a more cautious stance.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.