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Hungary Central Bank
Executive Summary
- The NBH is expected to raise its benchmark by 30bps to 1.2% on July 27
- In their latest inflation report published on June 24, the NBH reviewed its inflation forecast for 2021 to the upside
- In the past few weeks, the rise in political instability amid a series of legal disputes with the EU has been weighing on the HUF
- Selling pressure on the HUF could eventually become a problem for NBH policymakers as it could intensify the inflationary pressures
Link to full publication
The National Bank of Hungary (NBH) is expected to raise its benchmark by 30bps again following the first hike last month up to 1.2 %, following NBH policymakers' recent hawkish comments. As for other CEE peers, inflationary pressures have continued to surprise positively in June, 'pushing' policymakers to start a tightening cycle even though the uncertainty over the economic recovery remains elevated.
Source: Bloomberg/MNI
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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