Many analysts have stated that the latest indicators – and now the re-strengthening forint – are signs that the National Bank of Hungary (MNB)’s easing cycle for the economy may finally be over.
“The surprisingly good economic growth figure indicates that the need for monetary support to the real economy has receded,” Concorde Securities economist János Samu was quoted by Bloomberg news service as stating. “The recent spike in forint volatility could provide another reason for ending the rate-cut cycle.”