A hawkish shift in Fed policy outlook and/or a deterioration in Hungaryʼs strong current account surplus could force Hungary to raise rates earlier, Citi said.
Given that mortgages, following their conversion earlier this year from foreign currencies into the local currency, are benchmarked to the three-month Budapest Interbank Offered Rate, or Bubor, central bank rate increases may become a politically sensitive issue ahead of Hungaryʼs next parliamentary elections, due in spring 2018, Citi said.
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