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MNB expects household investments to grow dynamically

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Experts of the National Bank of Hungary (MNB) expect household investments to grow dynamically in the coming period as household consumption increases in proportion to incomes, the MNBʼs chief analyst András Balatoni said Thursday at a press conference presenting the bankʼs fresh Inflation Report, Hungarian news agency MTI reported.

Household consumption will grow by 4.4% this year, 3.7% in 2018 and 3% in 2019. The MNB projects 3.6% economic growth this year and 3.7% in 2018.

The MNB published the main figures of its Inflation Report on Tuesday, lowering its inflation forecast for this year from 2.6% to 2.4%, and from 3.0% to 2.8% in 2018.

Accordingly, the analysts project more modest inflation on the entire forecast horizon.

The forecast for 2019 has not been changed compared to the March report; the MNB projects 3.0% inflation and 3.2% GDP growth.

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