MNB increases GDP growth forecast, cuts inflation projection
The National Bank of Hungary raised its forecast for 2015 GDP growth to 3.2%, the main figures of its fresh quarterly Inflation Report yesterday, to be published in its entirety tomorrow. The GDP forecast is drastically up from the 2.3% growth forecast in the previous report published in December, according to Hungarian news agency MTI.
The bank also sharply cut its forecast for 2015 inflation, now expecting consumer prices to stagnate this year rather than increasing an average 0.9% as projected in December. The MNB now forecasts 2016 inflation to average 2.6% annually, closing up to the Bankʼs 3% midterm target more gradually than earlier thought, but within the freshly designated +/-1 percentage point tolerance bracket. For 2016, annual average inflation was forecast at 2.9% in December.
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