Analysts at JP Morgan said yesterday they expect another 15 bp rate cut today, taking the policy rate to 1.80%. Although the inflation and activity data broadly track the MNBʼs latest forecast and “thus do not call for a reassessment of our rate call (of the) policy rate down to 1.5%-1.6% by June, the risk is that sustained forint appreciation prompts the MNB to continue the easing cycle into the third quarter of 2015”, they added.
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