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Orban to Make Speech on the Economy ~0900GMT

HUNGARY
  • Prime Minister Orban will make a speech today at an economic forum where he will be joined by Economic Development Minister Nagy and Finance Minister Varga. The speech follows comments yesterday from NBH Governor Matolcsy, who acknowledged that the central bank is at odds with the cabinet on policy, saying fiscal measures "took a wrong turn" in 2021. Matolcsy, who would usually join Orban at the forum, will not be in attendance this year – evidence of the growing rift between the government and the central bank. The speech is scheduled to begin around 0900GMT/1000CET.
  • EURHUF (+0.50%) has started the session on the front foot after reversing yesterday’s gains on Matolcsy’s comments toward the end of the European session on Wednesday. There is little in the way of data today, with trade balance data (Prior: -EUR168m) on the docket tomorrow morning.
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