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NBH Raises 1W Depo Rate By 30bps To 3.6%

HUNGARY
  • As expected, the NBH decided to increase the 1W depo rate by 30bps to 3.6% and continues to tighten policy in order to limit the HUF depreciation and curb inflationary pressures.
  • On Tuesday, the NBH also decided to hike its policy rate by 30bps to 2.4% at its 'core' meeting.
  • EURHUF is nearly unchanged following the decision, currently trading at around 369; key resistance to watch on the topside stands at 370.

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