BRIEF: IMF Says New EU Fiscal Rules To Help Contain Volatility

BRIEF: Fiscal Commitments "Critical" - Eurogroup's Donohoe

MNI BRIEF: Fed's Kashkari: 1-2 Years Before Inflation Hits 2%

MNI China Daily Summary: Thursday, June 20

MNI: PBOC Net Injects CNY18 Bln Via OMO Thu; Rates Unchanged

CHINA PBOC CONDUCTS CNY20 BILLION VIA 7-DAY REVERSE REPOS THU

EZ/UK Bond Supply Calendar: EU Auction, BoE APF on Monday

US EIA: CRUDE OIL STOCKS EX SPR -2.55M TO 457.1M JUN 14 WK

Homebuilding Set To Keep Softening As Pullback In Permits Continues

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Nagy Targets Growth at 1.5-2.0ppts Above EU Average

HUNGARY
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • Speaking to Magyar Nemzet this morning, Economy Minister Nagy outlined that the government want to reduce the budget shortfall without resorting to austerity measures, pointing to the main drivers of the economy this year being retail sales, tourism and fading caution among consumers. Nagy targets a national GDP growth rate of 1.5 - 2ppts above that of the EU for this year.
  • Following yesterday's NBH rate decision, Deutsche Bank see year-end rates at 6.00%, reaching a terminal rate of 5.00% next year.
  • According to an NBH survey, a quarter of local banks have sensed a pick-up in demand for consumer credit over the past six months, with over half of respondents seeing a further pick-up in the coming months. This leaves the banking sector expecting a slight improvement in the overall economic situation, with increased credit demand and risk appetite the key drivers, according to bne IntelliNews.
145 words

To read the full story

Close

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.
  • Speaking to Magyar Nemzet this morning, Economy Minister Nagy outlined that the government want to reduce the budget shortfall without resorting to austerity measures, pointing to the main drivers of the economy this year being retail sales, tourism and fading caution among consumers. Nagy targets a national GDP growth rate of 1.5 - 2ppts above that of the EU for this year.
  • Following yesterday's NBH rate decision, Deutsche Bank see year-end rates at 6.00%, reaching a terminal rate of 5.00% next year.
  • According to an NBH survey, a quarter of local banks have sensed a pick-up in demand for consumer credit over the past six months, with over half of respondents seeing a further pick-up in the coming months. This leaves the banking sector expecting a slight improvement in the overall economic situation, with increased credit demand and risk appetite the key drivers, according to bne IntelliNews.