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Rates Expected to be Held at Today’s NBH Meeting

HUNGARY
  • Rates are expected to be held at today’s central bank meeting (1300 GMT/1400 local time) as alternate liquidity measures continue to be used as the main monetary policy tool. Analysts are uniform in seeing no change to the headline policy rate. The central bank will also publish updated GDP and inflation estimates.
  • See full MNI Preview including sell-side analyst views here: https://roar-assets-auto.rbl.ms/files/49325/MNINBH...
  • Following a move by Prime Minister Orban’s government to cap prices on pantry basics, retailer Aldi is limiting shoppers to buying only 1 kilogram of potatoes and a single liter of milk per visit due to a surge in demand, Bloomberg report. Food prices rose 49% in November from a year ago in November, more than double the EU’s average. NBH Governor Matolcsy told lawmakers this month that price caps needed to be removed “immediately” to bring inflation under control.
  • If Hungarian legislation adopted over the past few months is examined objectively and on a professional basis, "then we can get Hungary's suspended EU money released in the next few months," the head of the prime minister's office told conservative German daily Frankfurter Allgemeine Zeitung (FAZ).
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