MNB likely to raise rates 50bp at Tues meeting - Reuters poll


The National Bank of Hungary’s Monetary Council is likely to raise rates by another 50bp at a meeting on Tuesday, according to a poll of analysts by Reuters.

Fifteen of 21 analysts polled by Reuters on January 16-18 said rate-setters would probably raise the base rate by 50bp to 7.50% at the meeting on January 24. Three analysts forecast a 25bp rise and three expected no change.

The Monetary Council raised the central bank’s key rate by 50bp at both of its monthly rate-setting meetings in November and December.

According to the minutes of the December meeting, "members...agreed that if perceptions about the economy and the outlook for inflation continued to worsen significantly, it might prove necessary to raise interest rates further."

Consumer prices rose 4.1% year-on-year in December, the latest data show. CPI is set to accelerate in January on the back of tax rises.

Emerging market analysts in London have said the MNB is likely to continue raising rates to strengthen the forint until Hungary reaches an agreement on a financial safety net from the IMF and EU.


MKB Q1-Q3 Earnings Climb 16% Banking

MKB Q1-Q3 Earnings Climb 16%

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

European Shoppers Reveal Holiday Habits  Retail

European Shoppers Reveal Holiday Habits 

Hard Rock Hotel Opens 'Star Chalet' for Winter Season Hotels

Hard Rock Hotel Opens 'Star Chalet' for Winter Season


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.