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NBH Governor, Deputy Governor to Speak at Event Later This Morning

HUNGARY
  • Central bank Governor Gyorgy Matolcsy and Deputy Governor Barnabas Virag will speak at an event in Budapest today at 09:00GMT/10:00CET, according to Bloomberg. Their speech follows the NBH rate decision earlier in the week, where a step up in easing to 100bps has since weighed on the forint. At typing, EURHUF is 0.15% in the red, but reached a high of 394.07 yesterday evening. The early August/late September highs of 394.67/394.65 are the next topside targets. Our decision for the February MPC meeting can be found here.
  • Meanwhile, Hungary's producer prices rose 0.3% m/m in January versus -0.7% in December, according to the Central Statistical Office. Year-on-year, producer prices fell 6.8% compared to -7.2% the month prior, marking the sixth consecutive yearly contraction.
  • Former US President Donald Trump will meet privately with Hungarian Prime Minister Viktor Orban at Trump’s club in Florida next week, the New York Times report. Trump has frequently praised Orban at rallies and in speeches since leaving the White House, with the NYT adding that their meeting is scheduled for next Friday.

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