Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
HUNGARY
Executive Summary:
- The NBH is likely to accelerate the pace of its policy tightening following the recent adjustment on the 1W depo facility
- The central bank will probably proceed with a 100bps hike on its ‘core’ policy rate at today's meeting (1am London time), which would levitate the benchmark rate to 4.4%
- EURHUF still trades above the 370 key level and therefore further adjustment via the 1W depo rate facility may be needed to support the forint
Link to full preview:
The National Bank of Hungary (NBH) is likely to accelerate the pace of its policy tightening following the recent adjustment on the 1W depo facility. The central bank will probably proceed with a 100bps hike on its ‘core’ policy rate at today's meeting, which would levitate the benchmark rate to 4.4%. As a reminder, the NBH has increased the 1W depo rate by 125bps since the beginning of March to ease the selling pressure on HUF following the dramatic depreciation in CEE FX in the end of February/beginning of March.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok