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Little Movement In EURHUF, Hovers At Session Lows Around 385.00

HUNGARY
  • A broadly in line with expectations statement from the NBH and as such, EURHUF has seen little movement and sits towards the day's lows of 384.91. Primary downside focus turns to 382.34, the Feb 1 low.
  • On inflation, the NBH stated the pace of price increases will rise temporarily in the middle of this year due to the backward-looking pricing of market services and base effects.
  • The decline in core inflation capturing underlying developments will stop in the second quarter and core inflation will fluctuate between 4.5 and 5.0 percent in the remainder of the year.
  • Anchoring inflation expectations, preserving financial market stability and disciplined monetary policy are crucial for the consumer price index to return into the central bank tolerance band on a sustained manner from next year.
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