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NBH December Meeting Minutes Set for Release

HUNGARY
  • The government's "most important goal" this year is to kick start economic growth while reducing the budget deficit and public debt further, the finance ministry said on Tuesday as per MTI. In a preliminary reading of data, the ministry said that Hungary's cash-flow-based budget deficit was EUR 12.1bln at the end of December.
  • The NBH publishes the minutes of its December meeting at 1300GMT/1400CET, during which policymakers decided to cut the base rate by 75bps to 10.75%. Our review of that decision can be found here.
  • The US inflation print is the next key global release on Thursday. Domestically, CPI data takes focus on Friday where analysts see headline inflation declining from +7.9% y/y in November to +5.9% in December. The NBH meet next on Jan 30.

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