MNB reduces inflation forecast
The National Bank of Hungary (MNB) reduced its inflation forecast for both 2014 and 2015, the main figures released on Tuesday from its fresh quarterly Inflation Report show, according to news agency MTI.
The central bank cut its forecast for average annual inflation in 2014 to minus 0.2% from a 0.1% increase projected in the previous, September report. It now forecasts 2015 average inflation at 0.9%, sharply down from 2.5% projected in September. The MNB forecasts 2016 inflation to average 2.9% annually, that is approaching the central bank's 3% midterm target. It is the bank's first forecast for 2016.
The central bank left its projection for 2014 GDP growth unchanged at 3.3% while it cut the forecast for 2015 GDP growth slightly, to 2.3% from 2.4%. The MNB projects GDP growth to slow moderately to 2.1% in 2016. The reduced inflation forecast came after consumer prices were down 0.2% year-on-year in January-November according to recently released data of the Central Statistics Office (KSH). Hungary's GDP rose 3.6% in the first three quarters from a year earlier.
Avg Hourly Pay Rate for Blue-collar Workers Climbs 16% in Q1
Bulgaria's Household Income, Spending Rise 20% in 2023
Job Fair and Career Prep at Corvinus Starts Tomorrow
Spago Budapest Offering Unique Sunday Brunch Experience
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.
