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Virag Suggests NBH May Move Toward Larger Rate Cuts

HUNGARY

Comments from NBH Deputy Governor Virag, who is speaking at a Euromoney conference in Vienna, have recently crossed wires. The below comments are provided by Reuters:

  • Virag: Market expectation of interest rate of 6-7% by mid-year is realistic, based on current information.
  • Virag: Rate cut of 75 or 100bps will definitely be on table at next rate-setting meeting.
  • Virag: As things stand, there are as many arguments in favour of cutting rates by 75bps as by 100bps.
  • Virag: If we decide to accelerate rate-cutting at Jan meeting, it can only be temporary, for one, two, three months.
EURHUF spiked on the headlines, piercing above both yesterday's high at 380.51 and the 50-day EMA slightly further out at 380.70. At typing, the cross trades just shy of 381.00.
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