At its monetary policy meeting on 16 May, the Central Bank left the benchmark interest rate unchanged at 6.00%, in a decision widely anticipated by the market. Monetary authorities have not changed interest rates since February, when they halted the tightening cycle. High commodity prices and a windfall tax on energy, telecommunications and large retail are pushing inflation higher. Nevertheless, the Central Bank maintains an optimistic mid-term inflation outlook. While the Bank acknowledges that inflation is ?expected to be significantly above the target in the short term, due to the cost-push shocks hitting the economy? it expects that inflation ?may fall back close to 3% by the end of next year even without further policy tightening.?
Hungary Monetary Policy
Central Bank leaves interest rates unchanged
May 16, 2011
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Hungary Economic News
October 11, 2016
In September, consumer prices rose 0.2% from the previous month, contrasting August’s 0.4% decrease.
October 7, 2016
According to preliminary data released by the Statistical Institute (KSH) on 7 October, industrial output in August rose a working-day adjusted 3.5% from the same month last year, rebounding from July’s 0.1% decrease and marking a four-month high. On a monthly basis, industrial production increased a seasonally- and working-day adjusted 1.6% in August, which followed July’s 0.3% decrease.
September 26, 2016
The GKI economic sentiment indicator advanced slightly from August’s minus 3.9 points, which was the lowest reading in over two years, to the still-low level of minus 3.6 points in September.
Hungary: Central Bank leaves base rate at 0.90%, continues easing monetary conditions by capping main deposit facility
September 20, 2016
The Central Bank of Hungary (NBH) held all rates constant at its 20 September monetary policy meeting, but continued easing monetary policy conditions by using unconventional monetary policy instruments.
September 9, 2016
In August, consumer prices fell 0.4% over the previous month, coming in below July’s softer 0.2% decrease.