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NBH - Sell Side View

HUNGARY
SELL SIDE VIEW
  • Citi: No dovish shift from the NBH, despite soft CPI surprises. Policy focus to remain on extended asset purchase programs. scope for a 15bp cut in the 1-week deposit rate in Q1 2021, closing the gap to the 0.60% policy rate.
  • GS: NBH seen on hold at 0.6%, may consider expanding its lending schemes or asset purchase programmes. Benign inflation projections may see 1w deposit rate cut 15bp in 1Q21.

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