Reuters poll: MNB to keep base rate on hold

MNB

Analysts polled by Reuters expect the National Bank of Hungaryʼs (MNB) rate-setting Monetary Council to keep the current 1.35% base rate on hold at its meeting tomorrow, Hungarian news agency MTI reported on Saturday.

All 21 analysts surveyed between December 8 and 9 forecast the MNB would keep its base rate on hold.

The Monetary Council cut the base rate by 15 basis points to its current level at its July rate-setting meeting.

If the Council makes the decision expected by the analysts, the base rate will remain at its record low level for the fifth consecutive month.

The analysts polled by Reuters said the base rate will remain unchanged until the end of 2016 and will be raised to 1.5% by the end of 2017.

The analysts forecast 2.8% GDP growth for 2015 and 2.5% for 2016.

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