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NBH Commit to End of Tightening Cycle

HUNGARY

The Hungarian central bank statement writes that they have ended their rate hike cycle - full statement here: https://www.mnb.hu/en/monetary-policy/the-monetary...


Statement highlights:

  • High-frequency data indicate a clear economic slowdown since the beginning of June
  • Notes slowing / stopping of rate hikes in Poland, Czechia, Romania* Retail turnover stagnated after monthly decreases experienced since April
  • Inflation is expected to rise further in the autumn months, mainly due to factors outside the scope of monetary policy
  • [With today's policy rate hike] interest rate conditions have become sufficiently strict. The tightening of monetary conditions continues with the tightening of liquidity.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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