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One-Day Deposit Rate Trimmed as Rate Decision Comes into Effect

HUNGARY
  • The National Bank of Hungary’s one-day deposit rate becomes effective as of this morning after yesterday’s rate decision. The bank kept the base rate unchanged, but cut the top-end of the rate corridor as well as the effective policy rate (one-day deposit rate) by 100bps.
  • Hungary formally requested an extension of the Ukraine agricultural import ban alongside the agricultural ministers of other territories deemed “frontline” to the Russian invasion.
  • Macro data and central bank speakers are few and far between Wednesday, with the next key release crossing being Friday’s unemployment rate. The MNI NBH Review will be sent later Wednesday.

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