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.
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