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NBH Likely To Hike By 15bps at Each Of The Last Three Meeting For Now

HUNGARY
  • Last week, NBH Deputy Governor Virag mentioned in a conference in Warsaw that the monetary tightening campaign was 'far from the end' and that the central bank will continue to hike by 15bps in the coming months.
  • Virag also commented that the NBH is seeking to cut HUF liquidity more dynamically.
  • USDHUF has been consolidating lower since Thursday, approaching its 305 support; a break below that level would open the door for a move down to 302.50.
  • Hungary 10Y yield has been raising sharply in the past two days, gradually approaching its 3.50% resistance; next level to watch above that stands at 3.70%. On the downside, first support stands at 3.20%, followed by 3.09%.

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