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Orban to Attend EU Summit in Brussels

HUNGARY
  • Participants at the spring meetings of the IMF and the World Bank Group acknowledged the marked slowdown in inflation in Hungary, the Finance Ministry's state secretary told MTI yesterday. The official said investors responded "with scepticism" when the Hungarian delegation informed the spring meeting last year of the government's intent to bring CPI back to the single digits by the end of the year.
  • Prime Minister Orban is attending an EU summit in Brussels, with Ukraine and the Middle East among the main items on the agenda. There are no local data releases scheduled for today, with economic sentiment data the next release of note at the end of the week.
  • Market participants will therefore be looking ahead to next week’s NBH meeting (Apr 23), where HUF developments will likely once again be a significant determinant of the pace of additional easing after NBH chief economist Zsolt Kuti said yesterday that the role of the forint’s exchange rate and its effect on the economy has become more important in setting monetary policy.
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