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Nagy Says Raising Inflation Target Would Make CB More Credible

HUNGARY
  • Hungary may need to consider raising its inflation target of 3% as price-growth is unlikely to return near the central bank’s goal, according to Economic Development Minister Marton Nagy. “A higher inflation goal than earlier may show a more credible long-term future for economic actors… in a way that would put central bank credibility on a new basis,” Nagy wrote in an op-ed with local newspaper Magyar Nemzet. A Higher inflation goal may lower real interest rates, he added, “making borrowing more accessible, incentivising investment and economic expansion.”
  • Hungary and China are "strategic partners", Foreign Minister Peter Szijjarto said in a video message posted on Facebook on Saturday as per MTI. Cooperation with China comes with "significant advantages", Szijjarto said, acknowledging the decision to invite Hungary as a guest of honour to the World Power Battery Conference.
  • The data docket is quiet this week, with no major releases scheduled until next Tuesday’s central bank decision.
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