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NBH Official Says Role of HUF Becoming More Important in Setting MonPol

HUNGARY
  • The role of the forint’s exchange rate and its effect on the economy has become more important in setting monetary policy, NBH chief economist Zsolt Kuti said in an interview with Portfolio. Kuti said the exchange rate’s importance is driven by risk of euroization, its effect on inflation and debt level, as well as on growth. The official added that he sees inflation rising above the upper limit of the central bank’s tolerance band of 4% after May and staying there for the rest of the year.
  • Hungary's government will consider whether to enforce lower fuel prices after a review by the Central Statistical Office of regional average price levels, Minister of the National Economy Nagy told Világgazdaság newspaper. "The government's patience is running out [...]. We think that local fuel prices are 7% to 9% higher than the regional average," Nagy said in the interview.
  • Prime Minister Orban may speak at the National Conservatism conference later this morning, though Belgian authorities on Tuesday intervened to shut down the two-day conference. There are no data releases scheduled for today.

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