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HUNGARY: VdL Seeks Nod as Head of Commission, Pledges to Uphold Rule of Law

HUNGARY
  • Ahead of a vote on a potential second term as Commission President, Von der Leyen has pledged to reinforce the upholding of the rule of law across the European Union, making respect for rule of law a "must" for the granting of EU funds. On Tuessday, Roberta Metsola won another stint as president of the European Parliament, with parliament under her presidency a strong voice for holding up funds for Hungary over such concerns.
  • Hungary’s Debt Management Agency is offering a total of HUF 40bn in bonds at an auction today. Meanwhile, the government will continue to chair meetings as part of its rotating presidency of the EU.
  • There are no major releases scheduled for today, with just economic sentiment data for July scheduled for release before the NBH rate decision on July 23. While inflation data for June came in below-expectations, the central bank is expected to maintain its cautious stance and keep rates unchanged at 7.00%.

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