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NBH Expected Unchanged, With Monthly Meetings Becoming Less Market Relevant

HUNGARY
  • The NBH headline bank rate decision due at 2pm local time (1300BST/0800ET) is expected to come in unchanged at 13.00%, with the bank letting recent emergency actions bed in to a calmer market.
  • The bank’s liquidity tenders and FX swaps operations are now the primary policy tool to steady rates and currency markets, lessening the relevance of the monthly meetings. Full MNI Preview here: https://roar-assets-auto.rbl.ms/documents/19847/MN...
  • In another step to rein in the government deficit, cabinet are to extend their plan for a payment stop to state institutions by an initial two months (effectively into year-end), according to sources in HVG.
  • No notable data releases due Tuesday.

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