Analysts project 15bp cut in base lending rate Tuesday
Analysts polled by Reuters expect the Hungarian National Bank’s policy makers to lower the central bank’s base rate by 15bp to 0.90% at their meeting on Tuesday, state news agency MTI reported yesterday.
Nineteen of 20 analysts projected a 15bp cut at the May policy meeting in a poll conducted earlier this week, MTI said, citing Reuters.
One analyst forecast a 10bp cut. Half of the analysts said one more cut would follow. Their median forecast for the year-end base rate rose to 0.83pc from 0.75pc in the previous poll a month earlier. The National Bank’s Monetary Council has cut the base rate in 15bp increments at the last two monthly policy meetings.
At the meeting in April, the rate-setters said that achieving the central bank’s inflation target “pointed to a further slight reduction in the policy rate”.
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