Analysts expect base rate to stay on hold at Tuesday meeting
Analysts surveyed by Reuters expect the Monetary Council to leave the central bank MNB's key rate on hold at 6.00% at a meeting on Tuesday.
All 22 analysts surveyed by Reuters said rate-setters would leave the base rate unchanged.
The poll was carried out on August 12-16.
Data published on August 16, the last day of the survey, showed Hungary's GDP grew an unadjusted 1.5% in Q2 from the same period a year earlier, slowing from 2.5% growth in the previous quarter. Analysts had put GDP growth for the period at 2.1-2.3%.
The surprise slowdown could put pressure on rate-setters to loosen monetary policy.
Just three analysts in the Reuters poll projected a rate cut by the end of the year of 20 who submitted responses.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.