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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HUNGARY
- NBH pauses in its tightening cycle, leaving its 1W deposit rate steady at 4% in the past two weeks after raising it by 220bps in the last two months of 2021.
- The HUF strength has been one of the major reasons behind policymakers’ decision to keep the effective rate unchanged as a stronger domestic currency helps anchoring inflation expectations.
- The forint has been the best performing currency among the EM world since the start of the year; it is up 5% against the USD and 4% against the Euro (see chart below).
- However, policymakers may start to increase the 1W depo rate again the near term as surging energy prices keep supporting inflation.
- Next important data to watch will be December CPI inflation on January 14, expected to decelerate to 7.2% YoY (from 7.4% the previous month).
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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