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MNB acknowledges increased downside risks to CPI

Analysis

TOO SMALL, DO NOT USE

Downside risks to Hungary's inflation rate have increased, but falling prices have not affected future expectations yet, the National Bank of Hungary said on Friday, responding to a query by Reuters. 

"The MNB has noted that downside risks to inflation have risen in the recent period, however, there are no significant second-round inflationary impacts as yet," the central bank told Reuters. Consumer prices in Hungary fell 0.9% in December year-on-year, declining more than expected.

"Achieving the medium-term inflation target points in the direction of maintaining current loose monetary conditions for an extended period," the MNB's Monetary Council said in the minutes from their last rate-setting meeting in December.

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