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President Ader To Ask PM Orban To Lead Government

HUNGARY
  • Yesterday, the NBH decided to increase its 1W depo rate by 30bps to 6.45% (as expected) to ease the selling pressure on HUF and continue its ‘fight’ against inflation.
  • This follows Tuesday’s decision when the NBH decided to maintain the pace of its tightening pace on the ‘core’ policy rate and hiked the benchmark rate by 100bps to 5.4%.
  • EURHUF ticks lower this morning but continues to trade at the high of the 370-380 range. ST resistance to watch on the topside stands at 382.10. On the downside, key support to watch remains at 370.
  • Hungarian President Janos Ader meets Prime Minister Viktor Orban, where he’s likely to ask the European Union’s longest-serving leader to form the next government (BBG).
  • Hungary is among the nations that have agreed with Russia to allow the conversion of their payments to rubles, testing the European Union’s sanctions policy (BBG).

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