At its 24 April monetary policy meeting, the Central Bank left the base rate unchanged at 7.00%, which was expected by most market analysts. The Bank last changed interest rates in December 2011, when it announced a 50 basis-point increase. The Bank stressed that "perceptions about the Hungarian economy have deteriorated in the past month, mainly driven by global factors" and urged the government to reach an agreement with the EU and the IMF, which would "reduce the risks associated with financing the government debt and slow the pace of withdrawals of foreign funding from the domestic banking sector". Monetary authorities also stated that "high volatility of risk perceptions and recent trends in underlying inflation continue to warrant a cautious policy stance". Moreover, the Bank highlighted that it will take all the necessary actions to ensure that recent government measures aimed at reducing the fiscal deficit "do not contribute to medium-term inflationary pressures and inflation returns to levels consistent with the Bank
Hungary Monetary Policy
Central Bank leaves rates unchanged as expected
April 24, 2012
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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.