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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HUNGARY
Executive Summary:
- The NBH is likely to hike its policy rate by 30bps to 2.4% on Dec 14
- NBH has raised its 1W depo rate by 150bps in the past month to limit HUF weakness and curb inflationary pressures
- The 1W deposit rate could reach 4% in early 2022 and the policy rate is expected to gradually converge towards the 1W deposit rate through H2 2022
Link to full preview:
The National Bank of Hungary (NBH) is likely to hike its policy rate by 30bps to 2.4% on December 14 following the recent consecutive weekly hikes in the 1W deposit rate. In order to limit the downside risk on HUF and curb inflationary pressures, the NBH has raised its weekly deposit rate by 150bps to 3.30% in the past month (which is now the effective policy rate). We expect the 1W deposit rate to reach 4% in early 2022 and the policy rate to gradually converge towards the 1W deposit rate through H2 2022.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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