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Hungary's central bank expects zero inflation, faster growth

Analysis

Hungary will have no inflation this year, according to the National Bank of Hungary (MNB), which had previously projected 0.7% inflation, a preliminary report revealed yesterday. The bank also revised its GDP growth projections for the country, from 2.1% to 2.9% in 2014.

The full report on the MNB’s projections is to be published tomorrow.

Analysts say that the 0% inflation forecast is not surprising, as the consumer price index has been low for the past few months.

Although it adjusted GDP growth figures for this year, the bank did not change its projection of 2.5% growth in 2015.

Several analysts questioned the projection of rapid GDP growth in 2014, saying it is unlikely that the economy of the country will expand so dramatically.

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