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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.
Hungary Central Bank
MNI Point of View: NBH seen on hold, with strong focus on EURHUF
- The National Bank of Hungary (NBH) is expected to keep their benchmark and overnight deposit rate steady at 0.6% and -0.05%, respectively, as policymakers aim to keep financial conditions as loose as possible in order to stimulate economic activity, which has been significantly impacted in Q1 due to the worsening COVID19 situation.
- Some economists have estimated that the jump in fuel prices could push the annual change in consumer price inflation to nearly 5 percent in April, but NBH will let inflation run hot in the short term as policymakers have not raised any concerns over inflationary pressures in the long-run.
- NBH policymakers will also closely watch the key resistance on EURHUF stands at 370; a significant breakout above that level could lead to a tightening response from NBH policymakers this quarter (on the 1W deposit rate, which is decided every Thursday).
Source: Bloomberg/MNI
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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.
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