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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.
Hungary Central Bank
Executive Summary:
- The NBH decided to hike its policy rate by 30bps to 2.1% (as expected) at yesterday's meeting
- Selling pressure on HUF has remained elevated in the past few weeks despite the NBH hiking rates (down 3.3% vs. USD this month)
- Virag mentioned that the NBH needs to quickly react to currency-market risk
- A weak forint keeps supporting inflation expectations
Link to full review:
MNI Hungary CB Review Nov 16.pdf
The NBH decided to hike its policy rate by 30bps to 2.1% (as expected), which disappointed the market and led to some HUF depreciation following the decision. The left chart shows that the policy rate is currently standing at its highest level since February 2015.
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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