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NBH Plans Monthly Pace in Rate Hikes

HUNGARY
  • The NBH raised its benchmark rate by another 30bps to 1.20% today, which was slightly more than what the market was expecting (20bps).
  • According to the statement, the NBH will continue its tightening cycle until CPI goal reached, and is planning monthly pace in rate hikes.
  • The bond buying program will continue to be a key policy tool.
  • The HUF has been strengthening since the decision (1pm London time), with USDHUF currently trading slightly above 304. Next support to watch on the downside stands at 301.70.
Link to the statement:

https://www.mnb.hu/en/monetary-policy/the-monetary...


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