MNI BRIEF: Japan Oct Real Wages Unchanged Y/Y

MNI BRIEF: BOC Cutting To 3% Next Year, Ex Governor Dodge Says

MNI BRIEF: Output Gap Shut, Wage Growth Too Fast - BOE Greene

BRIEF: EU-Mercosur Deal In Final Negotiations - EC

MNI China Daily Summary: Thursday, Dec 5

MNI BRIEF: China Construction Output Slows In November

US EIA:NAT GAS STORAGE -30 BCF TO 3,937 BCF NOV 29 WK

MNI: CANADIAN OCT TRADE BALANCE CAD -0.9 BILLION

MNI: US OCT TRADE GAP -$73.8B VS SEP -$83.8B

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

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

S&P Cut Hungary Rating Over High Inflation and External Pressures

HUNGARY
  • S&P on Friday cut Hungary's long- and short-term foreign and local currency ratings to 'BBB-/A-3' from 'BBB/A-2', citing persistently high inflation and external pressures. The ratings agency revised its outlook to "stable" from "negative" on expectations that Hungary's economy will avoid a substantial economic downturn over the next two years. As a reminder, Fitch cut Hungary’s outlook to “negative” from “stable” on Jan 20.
  • Hungary's GDP growth could climb over 4% next year thanks to measures bolstering stability, Finance Minister Varga said on Saturday. Varga noted that despite the downgrade in Hungary’s outlook by credit agencies, the country’s sovereign rating is still two notches higher than that of a decade ago.
  • Hungary is not at war with anyone, Prime Minister Orban told public radio on Friday as cited by MTI. Hungarians reject EU sanctions against Russia as they believe that sanctions have failed to help Ukraine and "bring Russia to its knees", but have instead inflicted "enormous damage on" the EU and Hungary, Orban said.
  • Hungary’s economic sentiment index rose to -20.5 in January from -20.8 in December, according to the GKI Economic Research, as outlook on the Hungarian economy slightly improved and inflation expectations declined. Looking ahead this week, PPI, trade balance, manufacturing PMI and retail sales data are all on the docket.
BulletEM BulletEmerging Market NewsHomepage
BulletEM BulletEmerging Market NewsHomepage

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.