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HUNGARY: MNI NBH Preview – January 2025

HUNGARY
  • The National Bank of Hungary is expected keep its base rate unchanged at 6.50% following a further surge in inflation in December, with the decision likely to be accompanied by continued hawkish communication.
  • Improving global risk sentiment and the associated recovery in HUF will be welcomed by policymakers, but domestic challenges mean no change to the base rate is expected until Q2-2025 at the earliest.
  • Among sell-side, no analyst view we have surveyed expect to see any change to the base rate this month.

See the full preview, with a summary of sell-side analyst views, here.

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  • The National Bank of Hungary is expected keep its base rate unchanged at 6.50% following a further surge in inflation in December, with the decision likely to be accompanied by continued hawkish communication.
  • Improving global risk sentiment and the associated recovery in HUF will be welcomed by policymakers, but domestic challenges mean no change to the base rate is expected until Q2-2025 at the earliest.
  • Among sell-side, no analyst view we have surveyed expect to see any change to the base rate this month.

See the full preview, with a summary of sell-side analyst views, here.