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NBH Hikes Its 1W Deposit Rate To 3.1%

HUNGARY
  • The NBH decided to raise its 1W deposit rate to 3.1% this morning, up from 2.9%, following its decision to increase the corridor ceiling (to 4.1%) on Tuesday.
  • NBH policymakers have been sensitive to HUF weakness in November as a weak forint keeps supporting inflation expectations.
  • HUF continues to appreciate following the decision, with USDHUF breaking below the 319 support this morning.

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