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Analysts: MNB will cut base rate by 0.10% again

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In advance of today’s announcement from the National Bank of Hungary (MNB) on the central bank’s base rate, 80% of those participated a Reuters poll of analysts unsurprisingly reckoned that a 10 bp cut is in the works.

Sixteen of 20 analysts are counting on the reduction to 2.90%, while the remaining four see a 20 bp cut to 2.80%.

“Considering perceptions of the risks associated with the economy as well as the improvement in the pace of economic growth, further easing of monetary policy may follow, but moving in smaller steps could be warranted in the future,” minutes from December’s MNB Monetary Policy Council noted in part.

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