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NBH Reiterate Cautious Stance Approach Needed to MonPol

HUNGARY
Highlights from the policy statement:
  • Strong disinflation and a reduction in the country’s vulnerability allow the MNB to continue shaping monetary conditions by lowering the base rate.
  • At the same time, a cautious approach and a slower pace of interest rate cuts are warranted in view of the increasing external risks.
  • With disinflation accelerating, the domestic real interest rate moved into positive territory in September and, with inflation falling dynamically, it is expected to rise gradually until the end of the year.
  • Risks surrounding global disinflation and volatility in international investor sentiment warrant a careful approach to monetary policy

See the full release here.

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