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Analysts expect MNB to keep rates on hold on Tuesday

MNB

Analysts polled by Reuters expect the National Bank of Hungary's rate-setting Monetary Council to keep the base rate on hold at 2.10pc at a policy meeting on Tuesday. All 15 analysts in the poll, conducted on November 17-20, said the Council would leave the base rate unchanged.

The consensus forecast is for a rise in the rate to 2.2pc by the end of 2015 and most analysts expect the bank to keep its rates unchanged at least until the second half of next year. But several of them noted that the risk of a rate cut early next year has increased in the past months.

The MNB wound up a two-year easing cycle in July, and monetary policy makers have suggested the base rate could stay on hold till the end of 2015.

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