MNI BRIEF: Japan MOF Official Not Commenting On FX Action

MNI: FED BALANCE SHEET TOTAL ASSETS +$2.6B TO $7.224T IN WEEK

MNI BRIEF: Fed's Musalem: Interest Rates Likely To Be 3.5%-4% Over Long Run

FED’S DALY: POLICY ADJUSTMENTS LIKELY WARRANTED AT SOME POINT

MNI China Daily Summary: Thursday, July 11

MNI BOK WATCH: More Evidence Needed To Cut Rates, Says Rhee

MNI: US JUN TREASURY BUDGET -66B

US Treasury Auction Calendar

US EIA:NAT GAS STORAGE +65 BCF TO 3,199 BCF JUL 05 WK

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Russia Energy Clampdown Hampered by Hungarian Opposition

HUNGARY
  • During negotiations on Sunday, EU nations failed to reach unanimity in their approach to Russian sanctions, with Hungary refusing to back a compromised deal, according to sources. Diplomats are set to meet again today, with the source adding that a deal remains possible over the next few days. So far, the proposals detail a ban on seaborne oil from Russia by early 2023, while imports via the Druzhba pipeline would come into effect at a later date.
  • At tomorrow’s rate decision, the NBH are seen slowing the pace of their tightening cycle with a 50bps hike to 5.9%. The central bank is also likely to proceed with a 30bps in the 1W depo rate after pausing at 6.45% in the past month.
  • As inflation remains partly driven by external factors outside of the monetary policy realm, Hungarian policymakers have been trying to stick with monthly intervention on the 1W depo facility as hiking too aggressively is not likely to have any ST impact on HUF and would also accelerate the economic slowdown. Full MNI preview with summary of sell-side views here: https://marketnews.com/mni-nbh-preview-may-2022-nb...
  • No major releases due today, with focus on tomorrow’s PPI release and the NBH decision.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
EM BulletHomepagemarkets-real-timeBulletEmerging Market News

To read the full story

Close

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.