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NBH To Continue Rate Hike Cycle Until Inflationary Pressures Ease (Virag)

HUNGARY
  • NBH Deputy Governor Virag told reporters that the central bank will continue its hiking cycle until inflationary pressures ease.
  • As a reminder, the NBH surprised the market and hike the 1W depo rate by 50bps to 7.25% this morning (vs. unchanged exp.) as the market uncertainty has been weighing on the HUF in recent weeks.
  • Virag added that the NBH is expecting CPI to rise further this summer.
  • Virag also mentioned that he sees path toward deal on the EU funds.

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