Thursday, Feb 18, 2016. 09:18

Reutersʼ poll: MNB to keep key rates on hold until next year

Photo by Jessica Fejos

The National Bank of Hungary (MNB) is expected to keep its key rate on hold until next year, according to analysts polled by Reuters, the news service reported yesterday.

(Photo: Jessica Fejos)

Analysts polled earlier, in January, anticipated a rise in the base rate to 1.83% by the end of next year, according to reports.

Of the 21 analysts polled by Reuters this month, all said that MNB’s Monetary Council would likely keep the base rate unchanged at 1.35% in a meeting scheduled for February 23.

During its last monthly policy meeting, the Monetary Council said that “inflationary pressures would remain moderate over a sustained period” and that “the current level of the base rate and maintaining loose monetary conditions for an extended period, over the entire forecast horizon, were consistent with the medium-term achievements of the inflation target and a corresponding degree of support to the economy”, according to Reuters.

The Monetary Council also said that monetary easing could continue by employing “existing unconventional tools”, according to minutes from the January meeting, the news service reported.

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