The decision was in line with analysts’ expectations. At the previous rate-setting meeting on March 20, the Monetary Council voted unanimously to leave the base rate unchanged at 6%.
The statement published after the meeting said inflationary factors have become more evident, but macroeconomic factors with a disinflationary effect have appeared at the same time, prompting the council to leave rates on hold. The Monetary Council will closely follow inflationary trends and take any necessary steps to maintain price stability, the statement said, adding it considered it important to point out again, after Sunday’s parliamentary elections, that Hungary’s big deficit would eventually result in balance-related risk.
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