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NBH Governor Says Hungary May Reach Single-Digits Inflation by November

HUNGARY
  • Consumer price growth, which has been the highest in the EU, will probably drop to single-digit territory by November and slow further from there at the end of the year, central bank Governor Matolcsy told a conference of economists.
  • Slight uptick in EURHUF following those comments, with the cross now within close proximity of its intraday highs at 385.44. The cross had moderately dipped earlier in the session but the forint is now lagging its CE3 peers (PLNHUF: +0.10%; CZKHUF: +0.20%).
  • EURHUF price action still sits within key technical levels: resistance at 391.64, the Aug 21 high, and support at 382.84, the 50-day EMA.
  • A reminder that Deputy Governor Virag is also scheduled to speak at 1300BST/1400CET.
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