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NBH To Hike Rates By 30bps Today

HUNGARY
  • The NBH is expected to continue its gradual tightening policy by raising its 'core' policy rate by 30bps to 2.7%.
  • The ‘core’ policy rate is forecasted to gradually converge towards the 1W depo rate through H1 2022.
  • The 1W depo rate is also expected to be increased by 30bps to 4.3% on Thursday (Jan 27) and is likely to be raised to (or above) 4.5% in the ST to ease inflationary pressures and limit the downside risk on HUF.
  • This morning, economic data showed that wage average gross wages accelerated to 10.1% in November (vs. 8.9% exp.), up from 8.5% the previous month.
MNI London Bureau | +44 203-865-3850 | yvan.berthoux@marketnews.com
MNI London Bureau | +44 203-865-3850 | yvan.berthoux@marketnews.com

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