At its 28 February monetary policy meeting, the Central Bank left the base rate unchanged at 7.00%. The decision was expected by the market and followed on a similar move at the previous meeting. The Bank commented on January's inflation spike, noting that the data is surrounded by greater-than-usual uncertainty, due to the indirect tax changes. Moreover, the Bank maintained its view that the unfavourable economic environment, especially in the Euro area, will contribute to a deterioration in the outlook for Hungarian economic growth and thus translate into subdued price pressures. Finally, amid moderating pressure on both the Hungarian forint and government bond yields, monetary authorities turned to a more neutral tone, yet still stating that high volatility of financial markets over the recent period continues to warrant a cautious policy stance.
Hungary Monetary Policy
Central Bank leaves rates unchanged for second consecutive meeting
February 28, 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.