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NBH Rate Decision Coming Up (1300BST/1400CET)

HUNGARY
  • The NBH are almost certain to deliver another 100bp cut to the one-day deposit rate, in-line with previously offered guidance that the rate will be converged to the 13% base rate by the end of this month. Beyond this, there is no firm consensus among sell-side regarding the path of the base rate for the remainder of the year, though benign inflation developments could open the door to faster easing.
  • The decision on the one-day deposit rate is usually released alongside the policy statement at 1400BST/1500CET, 1 hour after the decision on the base rate at 1300BST/1400CET. Updated inflation forecasts will also be released.
  • See our full preview, with sell-side analyst views, here.

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