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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.
Hungary Central Bank
Executive Summary:
- The NBH could surprise the market by hiking its benchmark rate by up to 60bps
- Sell-side consensus expects a 30bps hike
- However, a 30bps hike is very likely priced in by the market, and therefore may not be enough to halt the recent HUF depreciation
- HUF weakness keeps supporting inflation expectations
Link to full preview:
The National Bank of Hungary (NBH) could surprise the market by hiking its benchmark rate by up to 60bps on November 16 to curb inflationary pressures, which are expected to remain elevated until at least the end of this year. Market consensus is pricing in a 30bps hike (vs. 15bps in the past two meetings). However, a 30bps hike is very likely priced in, and therefore may not be enough to halt the recent HUF depreciation.
Source: Bloomberg/MNI
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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