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NBH Needs To Slow Down Base Rate Hikes To About 50bps (Virag)

HUNGARY
  • This morning, State secretary Gion mentioned this morning that Hungary can meet 4.3% growth target this year.
  • NBH Virag mentioned that the central bank needs to slow base rate hikes to about ‘50bps’ and does not need double-digit base rate.
  • Virag added that headline inflation is expected to exceed 10% in the months ahead, and restoring economic equilibrium is key for Hungary.
  • EURHUF is trending higher following Virag’s comments, approaching the high of its daily range at 383. Next resistance to watch on the topside stands at 384. On the downside, ST key support stands at 380.

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