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Matolcsy, Nagy Look to Bury Hatchet and Re-Commit to Low Inflation

HUNGARY
EM BulletHomepagemarkets-real-timeBulletEmerging Market NewsEuropean Central Bank (ECB) Market News
  • Meetings held between the economy minister Nagy and NBH governor Matolcsy yesterday have been framed as a symbolic step to ending disputes between the government and central bank. Both leaders re-committed to pressing ahead with low inflation.
  • Retail sales data out this morning showed sales rising 1.1% on the year, up from 0.6% previously. Sales of food, beverages and tobacco was up 2.7%, while sales of non-food products fell 2.1% over the same period.
  • Industrial production came in higher-than-expected, at +3.5% vs. Exp. 0.5% M/M (Prev. -1.1%), and +1.4% vs. Exp. -3.0% (Prev. -4.1% ) over February.
  • Following the meetings of the NATO-Ukraine Council, foreign minister Szijjarto stated NATO’s “War Psychosis” risks escalation of the conflict – and again angled for a rapid diplomatic settlement to the invasion of Ukraine.
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  • Meetings held between the economy minister Nagy and NBH governor Matolcsy yesterday have been framed as a symbolic step to ending disputes between the government and central bank. Both leaders re-committed to pressing ahead with low inflation.
  • Retail sales data out this morning showed sales rising 1.1% on the year, up from 0.6% previously. Sales of food, beverages and tobacco was up 2.7%, while sales of non-food products fell 2.1% over the same period.
  • Industrial production came in higher-than-expected, at +3.5% vs. Exp. 0.5% M/M (Prev. -1.1%), and +1.4% vs. Exp. -3.0% (Prev. -4.1% ) over February.
  • Following the meetings of the NATO-Ukraine Council, foreign minister Szijjarto stated NATO’s “War Psychosis” risks escalation of the conflict – and again angled for a rapid diplomatic settlement to the invasion of Ukraine.