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NBH May Consider Cutting Upper Rate at Next Week’s Meeting, Virag Says

HUNGARY
  • The forint has come under pressure following some dovish comments by NBH Deputy Governor Virag in an interview given to local newspaper Vilaggazdasag. “The extreme risk scenarios have been priced out, there is no longer any need to maintain such a large degree of room for maneuver, so a decision on a significant narrowing of the upper edge of the interest corridor may be reached at next week's meeting of the monetary council,” Virag said, adding that a “patient approach prioritizing market stability” was still needed.
  • Hungary and South Korea signed a memorandum of understanding on boosting their trade and investment development cooperation on Tuesday, MTI report. Hungary counts on South Korea as a partner in shifting its labour intensive economy to a knowledge-intensive economy, the foreign ministry's parliamentary state secretary said.
  • There are no major economic releases or speaker events scheduled today.
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