At its 23 August policy meeting, the Central Bank decided to leave the benchmark rate unchanged at 6.00%, in a decision widely expected by the market. Monetary authorities last raised interest rates in January and have since left them on hold amid slowing inflation and a protracted economic recovery. The Central Bank maintained its view that inflation will fall back to its 3.0% target in the mid-term ?even without policy tightening, despite the cost shocks hitting the economy.? Moreover, the monetary authorities recognized that growth has disappointed on the downside, with evidence that global economic activity is moderating. Finally, the Bank stated that ?interest rate decisions may be influenced by the success of measures to solve the euro-area debt crisis, in addition to expected developments in domestic inflation.?
Hungary Monetary Policy
Central Bank maintains monetary policy stance
August 23, 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.