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NBH To Hike Its 1W Depo Rate By 50Bps

HUNGARY
  • This morning, the NBH is expected to readjust its 1W depo rate higher by 50bps to 7.75% following Tuesday meeting.
  • The central bank will then proceed with monthly decisions on both the base rate and the 1W depo rate, unless the HUF starts to weaken dramatically again.
  • As a depreciating HUF keeps de-anchoring inflation expectations, further weakness in the forint will lead to more readjustment via the 1W depo rate.
  • Other economic data to watch this morning will be PPI inflation, which has been constantly accelerating this year and surged to 28.8% in May.
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  • This morning, the NBH is expected to readjust its 1W depo rate higher by 50bps to 7.75% following Tuesday meeting.
  • The central bank will then proceed with monthly decisions on both the base rate and the 1W depo rate, unless the HUF starts to weaken dramatically again.
  • As a depreciating HUF keeps de-anchoring inflation expectations, further weakness in the forint will lead to more readjustment via the 1W depo rate.
  • Other economic data to watch this morning will be PPI inflation, which has been constantly accelerating this year and surged to 28.8% in May.