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Morning Summary: At Least One Dose Reached 2.8mil People This Week End

HUNGARY
  • Covid cases continue to fall with the 7D SMA of daily new cases down from 6,600 to 4,900 in the past week. It was estimated that at least one dose reached 2.8mil people on Saturday (28% of population). Hungary has been the worst's most affected place this winter as officials have recognized that the British variant was more aggressive and destructive than the variant that has spread during the first wave of the pandemic last year.
  • In a weekly interview on public radio on Friday, PM Orban said that the number of Hungarians who have received their first vaccine shot will have reached 4mil by early May, 6mil by mid-May and 7mil by early June (or 70% of the population).
  • On Friday, February retail sales came in much lower than expected on Friday at -5.9% (vs. -2.2%), up from revised -1.9% the previous month.
  • CPI inflation continues it bullish momentum and rose to 3.7% (as expected) in March, up 1% since the start of the year. As for their CEE peers, NBH policymakers are also expecting the rise in inflationary pressures to be temporary and the trend in prices should ease in the second half of this year. Based on their March projections, NBH expects inflation to rise to 3.8%/3.9% in 2021 before easing to 2.9%/3.0% in 2022 and 3% in 2023, respectively.
  • There are no important economic data to watch today.
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