WSJ analysts: MNB key rate to be 3.60%


The workday after Reuters reported its results of a poll taken among analysts regarding changes to the key rate by the National Bank of Hungary (MNB) Monetary Council scheduled to be announced tomorrow, the Wall Steet Journal weighs in with a similar survey, which ultimately showed ... pretty much the same forecast.

News service MTI this morning broke down the results thusly: “Thirteen of the 20 economists polled by the paper expect the 0.20% cut, two see a 0.15% reduction and four expect a 0.10% easing. Just one expects rates to stay on hold.”

According to the Council, higher volatility in sentiment on financial markets justifies “maintaining a cautious approach”: “In the Council’s judgment, the significant reductions in interest rates so far and the volatile conditions in financial markets might justify changing the pace or extent of policy easing in the coming months.”

Late last week, Reuters’ own poll of 21 analysts had a majority figuring that the National Bank of Hungary (MNB) would be dropping its base rate to the new record low of 3.60% tomorrow. General sentiment among these analysts was the rate-setters will be encourage to set the rate lower due to the U.S. Federal Reserve’s decision of last week to retreat from its campaign of buying up US dollar-based bonds and thus ultimately decrease the forint’s value against the dollar.


European e-commerce soars during pandemic - study Analysis

European e-commerce soars during pandemic - study

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Chain Bridge to be closed for traffic for 18 months City

Chain Bridge to be closed for traffic for 18 months


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.