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Russia Agrees To Boost Hungary Gas Supplies

HUNGARY
  • Yesterday, PM Orban met with President Putin in aim of increasing the gas imports from Russia. Putin answered that Russia sees no problem in boosting Hungary gas delivery.
  • Gazprom will decided in April on an extra 1bcm/yr delivered to Hungary.
  • Economic data showed yesterday that manufacturing PMI plunged to 50.7 in January (vs. 59.5 exp.), down from revised 65.5 the previous month.
  • Part of the plunge could be attributed to the aggressive tightening cycle run by the NBH to continue its combat against inflation.
  • NBH is expected to leave its 1W deposit rate steady at 4.3% at its weekly meeting tomorrow after raising it by 30bps last week.

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