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Nagy Says NBH Policy an Impediment to Growth

HUNGARY
  • Comments from Economic Development Minister Marton Nagy have crossed wires. The Minister said Hungary has exited inflation shock and policy should focus on a recovery of growth. He also said the NBH's monetary policy is an impediment to growth.
  • EURHUF saw a slight uptick on those headlines, though much of the move higher has already reversed. NBH officials have stressed that a cautious approach is warranted with regard to future base rate cuts - a stance which is at odds with the government’s preference for lower rates to spur growth amid the continual drag of domestic consumption on the economy.
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