Emerging market analysts in London expect the improved growth outlook for Hungary to limit the scale of the central bank’s easing cycle. Analysts at BNP Paribas said in a fresh assessment on Friday that they project Hungary’s GDP will grow 0.7% this year, instead of contracting 0.4%, as expected earlier. The change followed the publication of better-than-expected Q1 GDP data in the previous week. he analysts said the MNB’s easing cycle, started last August, was likely to bring the base rate no lower than 4.00%, 50-75bp higher than the market is pricing in at present.
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