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NBH Hold Rates Steady at 13%, As Expected

HUNGARY
  • Press conference scheduled for 1400GMT/1500CET.
  • See policy statement here: https://www.mnb.hu/letoltes/kv-230228-en.pdf
  • Limited reaction in EUR/HUF. Overall, trend conditions remain bearish. The focus is on 377.15, the Feb 14 low. This level was pierced yesterday, a clear break of it would confirm a resumption of the downtrend and open 376.06, the 1.236 projection of the Oct 13 - Nov 10 - Dec 12 price swing.

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