MNB rate-setters agree that easing cycle must continue

Analysis

The National Bank of Hungaryʼs (MNB) rate-setting Monetary Council agreed that it would send a "more robust signal" regarding the extension of the central bankʼs easing cycle at a policy meeting on April 21, according to condensed minutes released yesterday, state news agency MTI reported.  

Following a discussion on whether to "fine-tune" the Councilʼs forward guidance, the majority of members saw no case for making revisions. They did agree, however, that a stronger signal as to whether to continue the easing cycle could “adequately guide market expectations".

"The overwhelming majority of decision-makers judged it necessary to strengthen the former forward guidance and agreed that cautious easing of monetary conditions might continue as long as it supports the achievement of the medium-term inflation target," according to the minutes. The Council voted unanimously at the meeting to cut the central bankʼs key rate by 15bp to 1.80%.

ADVERTISEMENT

Romanian Salary up in June, Under Inflation Figures

Romanian Salary up in June, Under Inflation

Parl't approves 2023 budget Parliament

Parl't approves 2023 budget

Danubius Hotels Appoints Group Director of Development Appointments

Danubius Hotels Appoints Group Director of Development

Muni Council Organizing Meeting to Improve Air Quality City

Muni Council Organizing Meeting to Improve Air Quality

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.