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MNI NBH Preview: NBH to Hike by Another +30bp

HUNGARY

24/08/21 - 1300BST/1400CEST/0800ET


POV: NBH to Hike by Another +30bpThe National Bank of Hungary (NBH) is expected to raise its benchmark by 30bps up to 1.50% on August 24, its third consecutive hike since June, despite the rising uncertainty over the Delta variant. Even though we first anticipated smaller monthly hikes (15bps) for the last 5 meetings of the year, we upgraded our forecasts to 30bps for this meeting following NBH recent 'hawkish stance' and we think that NBH policymakers will mostly likely follow economists' consensus in order to avoid a HUF depreciation and rising volatility in the long end of the interest rate curve.


Full Preview Here:

NBH CB Prev - August 24.pdf


MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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