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NBH Tilts Slightly More Hawkish in August Statement

HUNGARY
  • Overall, slightly more hawkish from the NBH in terms of statement contents and phraseology
  • Pledged to continue hiking until the inflation outlook stabilises
  • Highlighted strong growth and reducing asset purchases by HUF10bn/wk
  • also removed the promise to take "firm" steps to rein in inflation
  • Also warned CPI may spike higher in October or November before falling
  • HUF firm across the board in response to more hawkish stance from the MPC.
  • EUR/HUF Support 1: 348.3256, Support 2: 347.3792
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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