GS sees forint dropping to 320 against euro
The central bank will continue its rate cutting cycle with reductions of another 75 basis points to the base rate that will likely see the national currency weakening to 315-320 against the euro, Goldman Sachs said in a research note. The lack of predictability in Hungary’s economic policies compounded by the central bank’s rate-setting panel now fully controlled by rate-setters supportive to the government’s approach present further risks to the forint and the resulting weakening may well call for market intervention, it said.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.